Vincent BOINAY

🤝 LVMH and Alibaba are deepening their partnership to enhance AI in China's unique digital ecosystem. 🌟 We are excited to have been included in the Vogue Business piece diving into the recent news. Check out the full article for more info and expert bites: https://lnkd.in/ehkexUN4 🌐 LVMH is starting to integrate Alibaba Cloud’s powerful AI tools, including Qwen, the tech giant’s proprietary large language model, and Model Studio, the comprehensive AI model-building platform, into its business operations. This means LVMH can potentially drive innovation in DATA ANALYSIS & utilization, creating a huge impact in ads, physical display, content creation, CLIENTELING, customer service, eCommerce / offline / OMNICHANNEL interactive shopping experiences, and even in INTERNAL departments like manufacturing and supply chain. 🔥 Overall, the continued collaboration with Alibaba for digital transformation in China demonstrates that LVMH has a strong and clear vision for the future to strengthen customer interactions and relationships.

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[Revolutionize Hong Kong Retail with Your Innovative Technology Solutions ❗ ] As Hong Kong consumers increasingly tend to "go north for consumption", local retail is facing unprecedented challenges 😥 . How can Hong Kong retailers face the challenge? In order to remain competitive amid the trend of Hong Kong consumers heading north for consumption, Hong Kong retailers need to actively take strategic measures, such as improving customer service, providing competitive prices, enhancing in-store experience, strengthening online business, and making good use of science and technology👍 The retail tech landscape is rapidly evolving, with a proliferation of new solution providers and tools. In this competitive environment, relying solely on online presence may not effectively showcase your tech solutions❗ Distinguish your brand as a LEADER in this dynamic space by participating in the physical show. Stand out from your competitors now - we are thrilled to invite you to participate in the Retail Technology Zone at BUSINESS GOVirtual Expo & Conference 2024 👋 Here's a glimpse of the exhibit profile in Retail Technology Zone: ✅Smart catering solutions ✅Inventory management systems ✅Omnichannel shopping solutions  ✅E-commerce platforms ✅Retail analytics platforms  ✅Mobile payment solutions ✅Self-checkout systems  ✅Electronic shelf labels  ✅Digital signage  ✅Smart fitting rooms ✅Geolocation marketing solutions   Don't miss this chance to showcase your cutting-edge solutions and establish invaluable connections with literally all retailers across every sector. 🙌 -------------------------------------------------------------------------------------------------------------------------------- BUSINESS GOVirtual Expo & Conference 2024 2024. 7. 11-12 HKCEC, Wanchai Exhibit Now：http://bit.ly/3EwPRoS Enquiry: (Baobab Tree Event) Tel: (852) 3520 3186 Email: govirtual@baobab-tree-event.com #BUSINESSGOVirtual #GreaterBayArea #GBA #HongKong #ImmersiveTechnology #GenerativeAI #ESG #FinTech #MarTech #Blockchain #Web3 #Cybersecurity #SmartOffice #DigitalTransformation #BusinessSolution #TechnologySolution 

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We agree with HKUST Business School at the University of Hong Kong that Discounting is a Double Edged Sword. Extensive Discounting can Damage your Business and Brand. Discounting also supports overproduction and waste and is Killing Our Planet. Leading brands can maintain superior profitably even in difficult economic times by avoiding extreme discounting and focusing on the preferences of their loyal customers. Our IMPACT SHOPPING platform thelps brands successfully launch and promote new products with zero waste and no discounts. By cooperating with your customers IMPACT SHOPPING aggregates, the product desires, and preferences of your customers on your digital platforms to ensure that only the right number of products are produced for your most desirable products. Social Commerce and Branded Community tools encourage pre-orders for limited edition offerings that are selected and produced due to high levels of demand. By working together with your customers and rewarding them to select from options to determine the most desirable products your brand can create profitable and responsible relationships. Endless discounting, artificially hyped styles and generic influencer recommendations creates superficial and replaceable engagements that tragically produce financial losses, unnecessary waste and environmental damage. Please check out IMPACT SHOPPING Platform to create Better Business for a Better Planet. sangrove.com

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China’s secondhand luxury market is too big to ignore. However, navigating it requires caution. On one hand, the market provides a means for luxury brands to maintain customer relationships beyond the initial purchase. On the other hand, increasing transparency around product value could directly impact brand desirability. We explore these opportunities in the story below, featuring insights from Danni L., Chen LIANG, Jacques Roizen, and Jacob Cooke.

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Chow Tai Fook (CTF) Group is one of largest jewelry retailers in China. It has over 7000 retailer stores. Its Shenzhen factory closed at the end of May. This is one of three #CTF factories on mainland China, as far as I know. There are various rumors about why CTF closed this factory. One of the reasons is the high operating costs at the Shenzhen factory. However, upon closer examination, the rising price of #gold appears to be the primary factor. 24K gold jewelry products are one of CTF’s main products. These items have been very popular over the past few years due to technological advancements in gold processing. They were among the most prominent products in the Chinese jewelry industry and retail business. However, this year’s increase in gold prices has negatively impacted consumer demand in China. By the end of April, there was a noticeable slowdown in the demand for gold jewelry. Jewelry retailers are now hesitant to restock these products. For 18K gold #jewelry, there is also a noticeable slowdown due to the high gold prices. #VCA has also announced price increases in China. Setting aside the overall Chinese economy, the high price of gold is currently the biggest risk factor for the jewelry business in China and globally.

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👜 The #China #Luxury Report by Yaoke Research Institute projects that the Chinese luxury market will grow by approximately 12% in 2024. As luxury products become more desirable, the high-end bag market, a key segment of luxury #consumption, is experiencing robust growth. With rapidly evolving consumer demands and intensifying competition, luxury bag brands must accurately interpret trends and adapt their marketing strategies. 📕 Little Red Book (Xiaohongshu) hosts a vibrant community of young, fashion-forward consumers with a profound interest in luxury bags. This platform fosters a diverse range of bag enthusiasts who share content, spark trends, and shape the market. 🔹 𝗖𝗹𝗮𝘀𝘀𝗶𝗰 𝗥𝗲𝘃𝗶𝘃𝗮𝗹 Iconic styles return to the runway with refreshed fabrics, colours, and accessories, leading to a resurgence of classic designs. Searches for vintage patterns, «denim», «lychee calfskin», and «retro lambskin» have seen notable increases. Rich, bold shades like Bordeaux and Burgundy are redefining the classic red, gaining significant popularity on Little Red Book. 🔹𝗜𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 Unique shapes and metallic-inspired products are popular among the younger generation. Personalized accessories like chains, keys, locks, and dolls enhance the versatility of bags, as shown by the increase in searches for «bag accessories», reshaping bag aesthetics and offering numerous customization possibilities. This trend also allows niche independent brands to showcase their creativity. 🔹 𝗦𝗶𝗺𝗽𝗹𝗶𝗰𝗶𝘁𝘆 𝗮𝗻𝗱 𝗘𝗹𝗲𝗴𝗮𝗻𝗰𝗲 Brands are moving towards subtle details that emphasize history and aesthetics, focusing on promoting a high-quality lifestyle rather than bold logos. The resurgence of «return to nature» trends is drawing attention to natural materials such as woven straw and beach bags, creating a relaxed and elegant atmosphere. As the fashion show continues to evolve, Xiaohongshu captures and preserves the essence of emerging trends, offering brands innovative strategies to stay ahead and consumers the latest insights into their favourite trends. --- 𝗩𝗮𝗹𝘂𝗲 𝗖𝗵𝗶𝗻𝗮 𝗶𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗴𝗹𝗼𝗯𝗮𝗹 𝗽𝗮𝗿𝘁𝗻𝗲𝗿 𝗼𝗳 𝗫𝗶𝗮𝗼𝗵𝗼𝗻𝗴𝘀𝗵𝘂 𝗶𝗻 𝗘𝘂𝗿𝗼𝗽𝗲.  🔔 Follow us for the latest updates

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【#GuruCase Series | Mr. Samuel Lee: “As a member of the retail industry, we also aim to promote sustainable lifestyles among our customers in Hong Kong.”】 What factors do you consider besides affordability and quality when purchasing different daily necessities? With the increasing emphasis on sustainable development, consumers and businesses are more concerned about responsible consumption and production, in the pursuit of maintaining the quality of life without putting excessive pressure on the environment. In this episode of #GuruCase, the PSLB team is honored to invite Mr. Samuel Lee, the Managing Director of Watsons Hong Kong, to share with us how the company, as a chained health and beauty retailer, collaborates with value chain partners to promote sustainable development and encourage customers to change their consumption behaviors. Here are some of their initiatives: 1.    AS Watson Group has introduced the ‘Greener Stores Global Framework’, which incorporates green elements into store design to improve energy efficiency. 2.    Promote suppliers to jointly support sustainable consumption and production practices, such as minimizing unnecessary packaging and ensuring all rinse-off products are microplastic-free. 3.    Collaborate with different suppliers to launch recycling reward programs, to encourage customers to build a recycling habit. Watch the full interview through the following link: https://lnkd.in/gJ2YGcGv From Samuel’s sharing, you can understand how we, as consumers, can reflect our concerns for environmental conservation and incorporate responsible consumption into our daily lives. #pslb #svc #businesssustainability #sustainabilityleadership #sustainability #business #sme #collaboration #sustainablevaluechains #sdgs #undp #hkwatsons The Hongkong Bank Foundation Watsons Hong Kong

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Asics, a Japanese athletic shoe and apparel company that helped shoe dog Phil Knight a start in the industry, posted a 14% YoY sales increase for the latest quarter, they did much better in China than many other retailers with a 16% YoY jump in Sales, even in the population shrinking Japan, they sold 20% more shoes and apparel. And its stock price has quadrupled in the past 2 years. That is a good example of how macro data only tell part of the story, if the macro is all that matters, investors need to avoid all China and Japan consumer-related stocks, China is in a kind of consumer recession and Japan is in a shrinking population predicament with 1.2x birth rate, and Asics has over 1/3 of their sales from China and Japan. But instead, Asics didn't just increase their sales by double digits, their OP margin went from 15% to 19%, a level only matched by Decker in the sports apparel space. Asics still has much potential, they are a full-line sports wear company, on top of the stylish Mexico 66 worn by celebrities these days, from indoor volleyball shoes to "Dad's sneakers", and performance running shoes worn by professionals. https://lnkd.in/gke4ewui

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Despite recent wage increases, it is evident that the prevailing mood in Japan will not improve as long as the weak yen continues to cause a substantial erosion of purchasing power. The impact of the weak yen has gone beyond just depleting financial resources and has crept into the psychological realm of the Japanese, causing significant unease and insecurity, especially among young people who have not had the opportunity to enjoy themselves. It is imperative to understand that wage increases alone will not restore confidence and optimism in the current economic climate. It is crucial to address the root cause of the issue, the weak yen, through appropriate measures to stabilize the currency. Only then can we hope to see a significant improvement in the economic and psychological well-being of the people of Japan? https://lnkd.in/gXB2gq5C #andrewtanatomisingapore #japan #singapore #japanguru #versatility #authentic #sourcing #JapaneseDesign #comfortablelifestyle #atomiconsultancy #atomioriginal #universitylecturer #businessowner #businessconsultant #陈湧泉老师指导创新创业 #andrewtanatomisingapore2024 #创业者思维 #创业创新 #陈湧泉老师创业思维

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“Kirakira Donki” Targets Gen Z with New Shibuya Store - https://lnkd.in/gqA_Q6CE TOKYO, Apr 24 (News On Japan) - A new store format from Don Quijote, named "Kirakira Donki," opened its doors in Tokyo's Shibuya district on Tuesday, aiming primarily at Generation Z and attracting a significant number of foreign tourists on its first day. The concept behind "Kirakira Donki" is designed to appeal to a younger, trendier crowd and international visitors, offering a unique shopping experience that differentiates it from the traditional Don Quijote outlets known for their eclectic and packed aisles. The store features a more curated selection of products with an emphasis on trendy goods, fashion, and technology that resonate well with the interests of younger consumers and tourists looking for distinctive Japanese souvenirs. This strategic move by Don Quijote reflects a broader trend in retail, where brands evolve to meet the changing preferences of a global and digitally connected customer base. Source: TBS https://lnkd.in/g2zJrVCD Source

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Could it be a turning point for Gucci or just a blip? It was surprising to see Gucci moving up the Re-Hub’s index rankings in the first quarter given Kering’s recent profit warning. The index measures the luxury brands that generated the most buzz on China’s top social media. The upward move could be thanks to Gucci’s Ancora event in Shanghai in March, during which it transformed the historical landscape with its campaign.  Gucci’s creative director Sabato De Sarno unveiled his inaugural Spring/Summer 2024 collection to an exclusive gathering of VIPs and brand ambassadors. Social media buzzed with excitement as Gucci’s campaign hashtags generated 740 million views on Weibo. What's for sure is that marketing can only help a brand so much and after this it’s down to offering innovative and desirable products (and the supply chain to ensure availability). Do you think this is a sign that the consumer mood toward Gucci is beginning to change for the better or just a blip? I’d love to know what you think. #luxury #socialmedia #digital #marketing Smith Square Partners https://lnkd.in/e7y6vj99

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In the first quarter of 2024, China witnessed a surprising retail rebound despite global economic uncertainties, with consumer goods sales climbing to $1.85 trillion, marking a 4.7% increase from last year. Online sales saw a more robust growth, reporting a 12.4% rise to $509.72 billion. The surge was led by food, clothing, and daily necessities online, which grew by 21.1%, 12.1%, and 9.7%, respectively.

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Is it time for Burberry to consider new management? Having just reported dismal FY24 results and remained vague about the FY25 LFL outlook, it must be time to consider a new management and creative team. Shareholders must be losing patience with Burberry, which has underperformed the luxury sector for almost 10 years.  Christopher Bailey was a brilliant creative director but did not have the right skills as CEO. Since then, first the Italian CEO/creative duo of Marco Gobbetti/Riccardo Tisci; and currently Jonathan Akeroyd/Daniel Lee have fared little better. But why? The luxury market is weaker than expected in 2024, but this alone is insufficient to explain the company’s current underperformance. Burberry’s strategy to elevate the brand; and shift towards leather goods has never made sense to me. This is a crowded, hyper-competitive space already and more importantly, it is not where Burberry’s DNA lies. Burberry’s DNA is about protecting people from the elements The brand has always been about protecting people from the elements. But in its eagerness to become a more exclusive leather goods brand, Burberry has let Moncler run away with the luxury outerwear space. Considering the interest in climate change, it seems like such a relevant category. Burberry’s positioning should be about accessible luxury No brand can take its pricing upwards easily, especially not in the current environment. It will be difficult for Burberry to move into higher-priced exclusive luxury, with the number of outlets Burberry has. It is no surprise that none of the successful luxury brands that operate in this higher-priced space – including Chanel, Dior, Hermes and Vuitton – have outlets. Being fashion-forward when quiet luxury in vogue is problematic Offering too high a fashion component at a time when quiet luxury is in vogue is also a difficult strategy. In my mind, Burberry should be a modern classic but not high-fashion. Burberry doesn’t feel like Burberry any more If you walk into the Bond Street Burberry store today, the white box feels anonymous; this store could arguably belong to a whole host of premium brands. I also think it’s a pity that successive management teams have been allowed to tamper with the typeface/font. The new font is not even consistently applied across the world. (For example, the Vienna flagship still uses the old one). As for heavy use of the colour blue, I associate Burberry with tan, black and dark red of the check. I’d love to know what you think. #luxury #management #turnaround Smith Square Partners https://lnkd.in/ebH9PX3W

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Overall a healthy/ welcomed growth rate normalization Yes China played a role but we see growth rates cooling down across segments/ regions Luxury is all about maintaining scarcity/ desirability Large scale (>$5bn yearly net revenue) luxury brands cannot grow sustainably at a low double digit CAGR while maintaining scarcity/ desirability The below is not a sign of weakness but a much needed cool-off to enable sustainable long term growth #luxury Kering CHANEL LVMH Richemont

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Talking of Chinese #eCommerce sector, it can be compared as the beginning of a youth's journey, Andrew Wu, LVMH Group President, Greater China told the 8th BECS conference. Learn more here: https://lnkd.in/gVCZmqat #Baozun #NewQualityProductiveForces #UnifiedCommerce #Omnichannel #DigitalCommerce #ConsumerExperience #CustomerExperience #Retail

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Even Richemont is not immune to global luxury market fluctuations. The Cartier owner reported a 5% decrease in operating profit in FY24 despite a 3% rise in sales, reflecting global market challenges and substantial impairment charges linked to its watch reselling unit. Changing consumer sentiment in China is also posing significant risks.

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LVMH - the biggest „avoider“ in the marketplace landscape (no Amazon, no eBay etc) is loving Alibaba, because of their huge CN customer base.. French luxury group LVMH will deepen its partnership with Alibaba to leverage the firm’s cloud and artificial intelligence capacities and boost its presence in China, the companies said on Wednesday. The world’s biggest luxury group, and the Chinese e-commerce giant first forged a partnership in 2019. The reinforced ties come as luxury companies redouble efforts to cater to shoppers in China, where demand has been dampened by a property crisis and high youth unemployment. The partnership also illustrates the growing focus of the high end luxury industry on improving online shopping, even as they invest in ever-more sophisticated physical retail stores.

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For savvy shoppers with a nose for a luxury bargain, Japan is proving hard to beat. The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount. You could get more than $1,300 off luxury items by shopping in Japan right now. Those savings are enticing buyers from around the world to Japan, with some eager to resell their luxury goods for a profit. And it’s not just new products that are cheaper — bargains can also be found at the many stores selling top-end second-hand apparel.

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