×
190
Fashion Jobs
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Category Manager/sr. Manager-Institutional Sales - Garments Industry
Permanent · Bhiwandi
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
OMREELS BIOSCOPE PVT LTD
Senior Executive Ecommerce
Permanent · MUMBAI
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
NIKE
Service Delivery Manager, Sap & Omdl (Order Management & Delivery) – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, Batch & bi – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, HR/Finance & Payroll – Tech Ops
Permanent · Bengaluru
By
Reuters
Published
Jan 29, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Apple takes top gifting spot from Hermès in China

By
Reuters
Published
Jan 29, 2015

SHANGHAI, China - Apple Inc has taken the number one luxury gifting spot in China from designer goods maker Hermes International SCA, according to a Hurun luxury report on Thursday, reflecting the iPhone maker's recent hot streak in the country.

The U.S. tech firm's focus on glitzy stores and high prices helped it post a 70 percent rise in sales in China in the last three months of 2014 and powered the company to the largest profit in corporate history.


Spending on gift-giving overall dropped 5 percent in 2014, after a 25 percent drop the year before, according to the Hurun Chinese Luxury Consumer Survey. Beijing has been cracking down on corruption and luxury spending among public officials, weighing down sales of premium liquor to handbags.

Domestic luxury spending in China dipped for the first time last year, according to consultancy Bain & Co, with increasing numbers of shoppers looking to spend money overseas.

"Travel retail continues to change the dynamics of luxury in China, with 7 out of 10 luxury goods bought by Chinese now being bought overseas," said Hurun Report Chairman Rupert Hoogewerf.

Hermes dropped to seventh from the top spot last year, while Chinese premium liquor maker Kweichow Moutai Co Ltd re-entered the top 10 after a two year hiatus, a potentially positive sign after sales were hit by the anti-luxury campaign.

Apple in first place was followed by LVMH Moet Hennessey Louis Vuitton SE, Kering SA's Gucci and Chanel.

The report, which has been carried out for over a decade, was based upon a survey of close to 400 millionaires with a personal wealth of 10 million yuan ($1.6 million/£1.06 million).

 

© Thomson Reuters 2022 All rights reserved.