The Luxury Marketing Council's new mainland China chapter will launch the 2011 Luxury-Market-in-China Summit on November 21. Hosted by leading integrated media company and Council member Fortune Character’s President & CEO Steven Yao, the summit will draw some 400 of China’s most recognized and revered leaders in government, academia, business and luxury.
Gregory J. Furman, Founder and Chairman of The Luxury Marketing Council (since 1994 – 1,000 luxury brands, 4,000 CEOs and CMOs in 37 cities worldwide) will be delivering one of the key note speeches, “Global Trends in Luxury Marketing.” His partners, who will be growing and running the mainland China chapter, include Jessica Tu, Chairman of The Luxury Marketing Council China, Savio Chan, President of U.S. China Partners Inc., and Faye Dong, Director of Austong International.
“Since launching The Luxury Marketing Council over 17 years ago, our vision has been to help our members win greater share of wallet and loyalty from their best customers, over 10.4 million worldwide with assets of $1 million or more, through synergistic partnerships between kindred-spirit luxury brands,” said Mr. Furman. “Our presence at China’s preeminent luxury event and the launch of The Luxury Marketing Council’s mainland China chapter continues this commitment by showcasing an enlightened, mutually profitable, friendly and creative collaboration that will lead the world of luxury in ways never before imagined.”
According to U.S. Consulting firm Bain & Co, within the next five years China is projected to be the world’s largest luxury goods consuming market with projected sales revenue for such goods reaching 68.4 billion Yuan this year alone, a 25 percent increase from 2010. The country will become more than just an important market for French, Italian and American brands. China will become a source of inspiration in its own right by bringing forth new ideas and establishing major trends.
“Chinese luxury consumers are beginning to transform themselves into a new class of buyers that want to learn about the history, connotation and culture of the luxury brands,” said Ms. Tu. “We look forward to continuously educating and sharing the best practices of global luxury brands and helping to elevate Chinese consumers’ understanding about the meaning of a luxury lifestyle.”
The launch of the China Chapter of The Luxury Marketing Council and their involvement in this year’s Luxury Market in China Summit positions the organization to introduce a new era of ideas, talents and brands in the luxury arena.
The 6th annual Luxury Market in China Summit will provide attendees with in-depth knowledge to redefine the county’s prestige market, which is evolving from the simple acquisition of luxury goods. Topics such as “How To Cultivate Specific Brand Culture Catering To Local Consumers,” “How To Efficiently Build Brand Image And Grant To Consumers,” “What Is The Ideal Retailing Solution For Variant Consumers?” and “How Do You Ideal CRM In A Niche Market” will be covered to provide participants with the tools to cater to the increased consumer focus on purchasing more than simply a luxury good, but a distinct culture, spirit and lifestyle of a prestige brand.
“Cooperative partners are a critical part of our success in connecting Fortune Character’s audience of business leaders with the world’s top luxury brands,” said Kathryn A. Minckler, President & CEO of Fortune Character US. “Our worldwide strategic partnership with The Luxury Marketing Council will help us continue to grow as we take our work as a leading integrated luxury media company into international markets.”
Fortune Character is the leading magnate magazine in China, reaching 343,000 elite and distinguished Chinese business leaders every month. Founded in 2008, Fortune Character covers luxury lifestyle, culture, travel, food and drink, fashion, wealth management and business. Subscriptions are reserved exclusively for members of the invitation-only Fortune Character Club. More than 90 percent of subscribers have a net worth in excess of $1.6 million.