The Luxury Item
The Luxury Item
Nov 13, 2019
S01 E04: Iris Chan, Partner & International Client Development Director at Digital Luxury Group (DLG)
43 min
Chinese luxury consumers are now the worldwide engine for global growth in spending on high-end goods. They make up a third of the global luxury goods sector, and projected to rise to 40% by 2025. Despite a thriving luxury market, many Western brands are reluctant to enter the Chinese market for a variety of reasons. In this episode of The Luxury Item, Iris Chan, partner and international client development director at Digital Luxury Group, talks with Scott Kerr about how luxury brands can unlock their potential in China -- what they need to know, and how to get started. Chan talks about why China's appetite for luxury isn't waning any time soon, how the BAT companies (Baidu, Alibaba, and Tencent) control most of the digital content in China, and navigating the power of social networking and service platform WeChat. Plus: How brands should work with KOLs (Key Opinion Leaders), young Chinese consumers powering the global luxury market, and Singles' Day madness | Follow Us: Twitter @theluxuryitem and @scott_kerr, Email: scott@silvertoneconsulting.com
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