Eight MBA students of IFA Paris in Shanghai were very glad to meet, few days ago, Gao Ming, senior vice-president in China of Ruder Finn, one of the most famous independent public relationship agency. He gave the students a presentation to explain us the last trends within the luxury industry in China.
As an established PR agency, Ruder Finn realized many significant projects for the luxury brands in the past. Gao Ming explained how its agency planned the first launch events of Hermès and Cartier at a time when the Chinese market was just starting to feel awareness toward luxury. He explained also they worked on the mainstream fashion media.
Gao Ming also presented to the students the luxury customer report of 2015. It is generated by a professional survey. It identified that the luxury markets develops today more trends in China mainland, compared with Hong Kong. The students were actually wondering how to develop such surveys and trends reports, as themselves should also conduct surveys for their own projects researches.
Threw this talk with Gao Ming, students had a better understanding of the China luxury market and the changes that the Chinese market faces. According to a recent report, « sales of luxury goods in China continued to grow in 2014, thanks to the rising number of high net worth individuals and affluent households, as well as the middle classes with strong spending power and a new penchant for affordable luxury goods. But new indicators and changes on the market encouraged also all luxury brands to redefine their strategy in China. »