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1、Luxury experiences in ChinaCONSUMER MARKETS Luxury experiences in China A KPMG study kpmg4#ff66ff/cn 2 | Section or Brochure name ? 2011 KPMG, a Hong Kong partnership and a member ? rm of the KPMG network of independent member ? rms af? liated with KPMG International Cooperative (“KPMG International
2、”), a Swiss entity. All rights reserved. Luxury experiences in China | 1 Contents Introduction 3 Executive summary 5 The luxury experience 6 Digital strategies 16 Succeeding in a crowded market 22 Managing a robust tax environment 28 Customs approaches for luxury companies 34 Working with partners a
3、nd vendors to protect brand 40 value TNS Research International China 42 About KPMG 44 Contact us 45 Case studies Cartier Pernod Ricard Shang Xia Salvatore Ferragamo Glamour Sales Hiersun Bally Patek Philippe Sothebys Bowers & Wilkins ? 2011 KPMG, a Hong Kong partnership and a member ? rm of the
4、 KPMG network of independent member ? rms af? liated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 2 | Luxury experiences in China2 | Section or Brochure name ? 2011 KPMG, a Hong Kong partnership and a member ? rm of the KPMG network of independent
5、member ? rms af? liated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Luxury experiences in China | 3 Introduction Nick Debnam Asia Paci? c Chair Consumer Markets KPMG China Ellen Jin Partner in Charge Consumer Markets KPMG China Chinas role in the
6、global luxury market is becoming more signi?cant year by year. Many international brands are starting to see a recovery in their global sales after three very tough years, yet despite this China remains one of the brightest growth prospects. Luxury companies are pursuing very different strategies ac
7、cording to the scale of their operations, and the scale of their ambitions. The traditional entry route for international companies has been through partnerships with local franchises and distributors. In recent years, as the business landscape has become more open and transparent, many companies ha
8、ve fully acquired their retail operations in China, at least in the most developed cities such as Shanghai, Beijing and Guangzhou. For some, local partners are still important in tier-two and tier-three cities where market conditions are less familiar. However some Western brands have entered these
9、markets directly with a wholly foreign-owned enterprise (WFOE) model. A long-held perception of luxury consumers in China is that they are driven by status seeking and overt demonstrations of wealth. Yet clearly in such a large and complex market this is a huge simpli?cation. In many respects the wh
10、ite collar professionals and time-pressed executives in Beijing and Shanghai resemble their peers in other major capitals and ?nancial centres as much as they do the wealthy business owners and entrepreneurs of second- and third-tier cities. If anything, it is in these cities that the greatest share
11、 of wealth (and disposable income) lies and it is here that we see consumption growing fastest. This years report focuses on the rise of experiential luxury and how consumption is being driven by a desire for self-reward as well as status. The report also explores the role that the internet and digi
12、tal media can play in brand building and considers whether more domestic Chinese brands may succeed in the luxury sector as tastes change. Finally, we draw out some of the tax and customs planning strategies for companies to consider as they grow or develop their strategy in China. The themes from o
13、ur survey are also very strongly validated in our ten case studies, which feature a selection of prestigious brands. We would like to thank the executives who took the time to share their insights with us. Hlne Beguin Partner in Charge KPMGs Global Luxury Group KPMG Europe (LLP) ? 2011 KPMG, a Hong
14、Kong partnership and a member ? rm of the KPMG network of independent member ? rms af? liated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 4 | Luxury experiences in China4 | Section or Brochure name ? 2011 KPMG, a Hong Kong partnership and a member ? rm of the KPMG network of independent member ? rms af? liated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Luxury experiences in China | 5 Executive summary Chinas luxury buyers are basing their purchasi
