Friday, April 1, 2011

Why Hong Kong allegedly has the most profitable Chanel shop worldwide

Chinese supermodel Liu Wen in Louis Vuitton shot by Paolo Roversi. i.e. one of my favorite models + favorite photographer + favorite brands = fashgasm

Friends and I often notice, bemused, the most bizarre thing in Hong Kong: (mostly) mainland Chinese queueing to get into designer shops like Louis Vuitton and Chanel on the weekends. Even flanked by velvet ropes and everything [ on the Kowloon side versus the expat-laden Hong Kong Island, due to the proximity to the border]. I was aware of China as the next emerging luxury goods stronghold in the global marketplace, but now I fully understand why they line up: Designer goods are generally 20-40% more expensive in mainland China than other Asian cities, like Singapore and Hong Kong, due to luxury taxes and customs tariffs. Which may account for the proliferation of counterfeit luxury goods in Asia. And account for the Chinese simply satisfying their cravings for brands via overseas online vendors or trips abroad. Conspicuous consumption is still evident here among an emerging middle class as the country moves from its image as a producer to one of consumer.

I love the 1920s Shanghai beauties look.

Read the article on shopping in China here on great Hong Kong based fashion blog "The D'Vine".

Other reigning Chinese supermodel Du Juan.