China buys up half the world’s luxury goods

[Hamartia Antidote]

Billions wasted and given to scum. Pathetic sellouts. Luxuries should incur an on-sale tax, foreign "luxuries" found at customs should lead to a corruption investigation, and if they are cleared there should be a yearly tax based on the sale value levied indefinitely.

Keeping up with the Joneses - Wikipedia, the free encyclopedia

It is a mindset issue that is going to be tough to get over. Not sure when it came and went in the US. Maybe in the 1920's.

You have people buying stuff only because their neighbors have it. If you don't have It you are looked at as being "unsuccessful". So the bar threshold goes up and up.

 

[TheTruth]

Keeping up with the Joneses - Wikipedia, the free encyclopedia

It is a mindset issue that is going to be tough to get over. Not sure when it came and went in the US. Maybe in the 1920's.

You have people buying stuff only because their neighbors have it. If you don't have It you are looked at as being "unsuccessful". So the bar threshold goes up and up.

It only died off in America because the Joneses are now worth $10 billion each and their neighbors simply can't afford afternoon trips to Antarctica on a SpaceX glider to take a shit in a golden toilet while eating caviar.

 

[Hamartia Antidote]

It only died off in America because the Joneses are now worth $10 billion each and their neighbors simply can't afford afternoon trips to Antarctica on a SpaceX glider to take a shit in a golden toilet while eating caviar.

No it isn't as simple as that. Don't you think the typical Chinese family has a competitive disposition? "My daughter took piano lessons this weekend and her teacher says she's extremely talented...so what did YOUR child do this weekend?" That then inflates to "we just bought a luxury car...how are you guys doing?"

 

[TheTruth]

No it isn't as simple as that. Don't you think the typical Chinese family has a competitive disposition? "My daughter took piano lessons this weekend and her teacher says she's extremely talented...so what did YOUR child do this weekend?" That then inflates to "we just bought a luxury car...how are you guys doing?"

A trashy, low-class Chinese family does. Trashy chiggers and bananas aren't the best representation of Chinese people, haha

 

[cnleio]

No it isn't as simple as that. Don't you think the typical Chinese family has a competitive disposition? "My daughter took piano lessons this weekend and her teacher says she's extremely talented...so what did YOUR child do this weekend?" That then inflates to "we just bought a luxury car...how are you guys doing?"

Not all Chinese family buy the luxury goods, only few rich can do ... most Chinese family spend most money on the reasonable price goods & invest Child's education too. Of course Apple products didn't belong to luxury in China, i had proved the truth in above posts.

2014年中国学生出国留学趋势报告
For example The map of overseas Chinese students to the World University:

The map of overseas Chinese students to U.S University:

The map of Chinese Student Rate of U.S University's foreign students:

Where's money to support these overseas Chinese students ? Of course most come from their Chinese parents, and the foreign school fees is absolutely not cheap for most normal Chinese family.(As far as i knew about some friends, u'd prepare for USD 50,000~100,000 or RMB 300,000~600,000 for ur children's foreign university fees )


My mother also ever asked me whether willing go to a foreign University ... i refused it coz i think it's a waste if i can't get a higher degree in foreign university.

 

[Edison Chen]

But China doesn't own any luxury brand like those we often mentioned. Useless thread.

 

[Place Of Space]

whatever.

 

[Edison Chen]

2. China didn't have consumption tax yet.

Actually, there is, but indirect and not transparent. The tax is already included in the total price of a product.

 

[cnleio]

Actually, there is, but indirect and not transparent. The tax is already included in the total price of a product.

Yes, after ask my girlfriend (a accountant), consumption tax indirectly hided inside the price ... 增值税发票

 

[cirr]

Buy buy buy!

Fosun takes stake in French luxury brand

2018-02-23 10:57 Global Times Editor: Huang Mingrui

Chinese conglomerate Fosun announced on Thursday that it will buy an unspecified stake in French luxury brand Lanvin, another step in its global expansion.

After the transaction, Fosun will be the largest shareholder of Jeanne Lanvin SAS, the oldest luxury couture house in France, which will help the Chinese company create a fashion-focused enterprise platform, according to a statement Fosun sent to the Global Times on Thursday.

Lanvin was founded by Jeanne Lanvin in 1889.

Lanvin will add a luxury asset to Fosun's Fashion Group, Joann Cheng, vice chief financial officer of Fosun International and executive president of Fosun Fashion Group, said in the statement.

"As China becomes the main growth driver of the global luxury market, we are confident that Fosun can bring great incremental value to Lanvin with our global resources and expertise, while being absolutely committed to Lanvin's high luxury positioning and its exceptional quality of products manufactured in France and Italy," Cheng said.

France's oldest luxury brand has been financially struggling in recent years. Sales fell 23 percent year-on-year in 2016 to 162 million euros ($182 million), Reuters reported in June 2017, citing sources with knowledge of the company's financial results. At the peak in 2012, the company's sales were 235 million euros, Reuters noted.

Currently, the French brand operates in more than 50 countries and regions offering garments for women, men and children, as well as accessories including footwear and leather goods.

Fosun has been expanding in the French market since 2010 when it announced the purchase of holiday resort operator Club Med. The Chinese company bought stakes in French margarine maker St Hubert and French property owner PAREF in 2017.

The company's global network now includes 17 countries and regions and covers various sectors including insurance, tourism and fashion, according to a document Fosun sent to the Global Times in January.

http://www.ecns.cn/business/2018/02-23/293262.shtml