We hear so much about China’s remarkable “rise” that it’s become almost cliché. But this podcast isn’t about manufacturing or technology or cars. It’s about luxury goods – and more specifically, luxury wines and spirits.
The market for luxury goods in China – everything from handbags to sports cars – is experiencing remarkable growth. In 2009, China surpassed the U.S. to become the second largest luxury goods market in the world after Japan.
As for luxury beverage brands, a study released in October 2012 put the luxury wine and spirits industry growth rate at 12 percent, meaning brands have to figure out a way to cater to the demand, while keeping their products exclusive. After all, luxury is all about exclusivity.
In this episode you’ll hear from:
–Eric Lee, Managing Director of JWT Shanghai
–Augustin Depardon, Global Marketing Director at Remy Martin
–Catherine Curran, Associate Professor at UMass Dartmouth’s Charlton College of Business
–Mark Spivak, author of Iconic Spirits: An Intoxicating History
–Eve Thomas, Associate Editor of Spafax’s Luxury Brands division (defining this episode’s “sparkword”: Luxury).
You’ll learn about:
-The importance of “taste” in emerging markets
-Cognac’s connection to hip-hop culture
-How the Japanese created the luxury Bourbon market
-Why China’s luxury spirit brands refuse to call themselves luxury brands
-and much, much more
Episode 2 of “Good Ideas” was produced by myself, Spafax online editor Jasmin Legatos and Sparksheet editorial assistant Sophie Woodrooffe. It was recorded by Albert at Base Bin Studios.
Nicolas Lebel wrote and performed our theme. The song at the end of the podcast is Lazy On the Grind by Ghost Style, featuring Kwokkin.
Special thanks to our interviewees and everyone else who made this episode possible. Let us know what you think!