POLS 3620 - French luxury products in China (Chan Ka Kei & Wong Ka Man)

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POLS 3620 Contemporary Europe and Asia Presentation - How do the French luxury products reflect the interaction between France and China?

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POLS 3620 - French luxury products in China (Chan Ka Kei & Wong Ka Man)

  1. 1.  What are the French luxury products? Chan Ka Kei 07002548
  2. 2. FASHIONABLE SUCCESS HIGH SOCIAL STATUS ELEGANTE RICH FAMOUS HIGH CLASS Chan Ka Kei 07002548
  3. 3.  How does the French luxury products influence the society of China? i. A medium to show off the purchasing power in China – A change in the more individualistic value system • One child policy → the 2nd generation of wealth – A culture of “face” Chan Ka Kei 07002548
  4. 4.  How does the French luxury products influence the society of China? ii. A way to raise up their social status – The desire for enhancing their soical status and visibility by an association with famous brand names. Chan Ka Kei 07002548
  5. 5.  How does the French luxury products influence the society of China? iii. A medium to impress others – An embedded gift-giving culture in China • Chinese bureaucracies system, giving gifts to those who helped you to set up your business • 28% of the luxury consumed for speacial gift for commercial relations. Chan Ka Kei 07002548
  6. 6.  How does the Chinese culture influence the French luxury products? i. Chinese culture in the French luxury goods Chan Ka Kei 07002548
  7. 7.  How does the Chinese culture and values influence the French luxury products? ii. Chinese Traditional values are added in the design of French luxury goods Chan Ka Kei 07002548
  8. 8.  How does the French luxury product influence the Chinese culture? Chan Ka Kei 07002548
  9. 9.  Luxury market in China  13.5% Chinese can afford  Traditional business elite  New luxury shoppers  More than 2 billion a year  Expected grow 10% annually until 2015 Wong Ka Man 08039127
  10. 10.  How luxury goods trading between France and China change France?  Earn more money: China is the 3rd of the luxury goods consumer ranking  Relocating their factories to China  Seen China as dumpling ground for out of season’s product  More and more brands produce their product base on the Chinese style Wong Ka Man 08039127
  11. 11.  How French luxury goods change China?  More reliable on luxury goods  Growth of GDP Rise of COUNTERFEIT INDUSTRY Wong Ka Man 08039127
  12. 12.  French response… Price of luxury goods rise since the demand rise  Start to realize “China trap” and some refuse to set up company in China e.g. Cartier  More cooperation with China e.g. Action Plan in 2009 Wong Ka Man 08039127
  13. 13.  How counterfeit industry influence France?  Loss of profit  Damage in reputation  Anti-counterfeit Wong Ka Man 08039127
  14. 14.  How counterfeit industry influence China  Undermined China’s “world factory” status  Loss of confidence of the foreign  Loss of confidence of the Chinese too Wong Ka Man 08039127
  15. 15.  Except counterfeit, there are still other economic interaction on luxury market  Partnership and joint venture  Cooperation in training  Growth of domestic brands  Spring board to other Asian market Wong Ka Man 08039127
  16. 16.  China’s open door policy open the door for the luxury industry  The luxury industry drive the interaction between western and Chinese since the new born wealthy class are unsophisticated in luxury lifestyle  However, the new born Chinese market has side effect on the traditional luxury industry  Thus, the interaction between France and China on the luxury market still continues… Wong Ka Man 08039127

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