BEIJING — China’s anticorruption campaign, compounded by the watchful eyes of Internet users intent on exposing embarrassing cases of official excess, will push Chinese luxury-goods consumers toward more discreet brands and products.
That’s according to industry analysts monitoring the impact of ongoing efforts of China’s new regime to tamp down corruption, alongside a high-level political purge of top officials, the likes of which have not been seen here for decades. The anticorruption drive has already cut into sales of some of China’s most lavish consumer items, including expensive liquor, imported luxury-brand watches and even sharks’ fins, a controversial delicacy used to make pricy soup.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)