.New site promotes French luxury labels in China
PARIS (AP) - A new Web site launched Thursday gives China's 1.3 billion people a chance to ogle French luxury, from designer clothing to diamond-dripping watches and glittering gold jewelry, as part of a bid by French houses to tap into the Asian giant's growing hunger for high-end goods.
In a lavish ceremony at the Chinese embassy's commercial section in Paris, the heads of Christian Dior, Chanel and dozens of other French labels celebrated the launch of the site, .http://www.cColbert.cn
The site, which is in Chinese, English and French, was developed by the Comite Colbert - a Paris-based organization that represents some 70 French brands - and Sina, China's leading Internet provider, with some 260 million users, a statement said.
In the past, the French luxury labels represented by the Comite Colbert tended to see China - the world's manufacturing hub and a top producer and consumer of counterfeit goods - as something of a foe. But Chinese consumers' ever-growing buying power and appetite for high-end goods have made the country the holy grail for luxury purveyors in France and beyond.
The site features lavish, 3-D photos of French luxury products, from designer clothing and jewelry to high-end hotels and restaurants. The idea is just to whet consumers' appetite for the pricey products and services, because the site doesn't allow for Internet purchases.
China's ambassador in France, Kong Quan, highlighted how recent changes in the country - with its rapidly rising standard of living and population of 1.3 billion - have made it luxury's new El Dorado.
"Do you realize that 30 years ago, the three treasures in a Chinese household were a bike, a watch and perhaps a sewing machine?" asked Kong. "Today 1 million cars per month are sold in China and the car is no longer considered a treasure."
"I am convinced of French brands' ability to constantly create new high-end products that please Chinese consumers," he said, adding that organizers hope the site will initially reach up to 200 million people in China.
Speaking to The Associated Press, Dior CEO Sidney Toledano hailed the site as "an extremely original, creative and I'd say state-of-the-art way to communicate," with China's potential consumers.
French brands are present in nearly 70 Chinese cities, with 45 new boutiques opening between 2009-2010 alone, a statement from the Comite Colbert said.
MyWay
Someone wants some of those worthless dollars
In a lavish ceremony at the Chinese embassy's commercial section in Paris, the heads of Christian Dior, Chanel and dozens of other French labels celebrated the launch of the site, .http://www.cColbert.cn
The site, which is in Chinese, English and French, was developed by the Comite Colbert - a Paris-based organization that represents some 70 French brands - and Sina, China's leading Internet provider, with some 260 million users, a statement said.
In the past, the French luxury labels represented by the Comite Colbert tended to see China - the world's manufacturing hub and a top producer and consumer of counterfeit goods - as something of a foe. But Chinese consumers' ever-growing buying power and appetite for high-end goods have made the country the holy grail for luxury purveyors in France and beyond.
The site features lavish, 3-D photos of French luxury products, from designer clothing and jewelry to high-end hotels and restaurants. The idea is just to whet consumers' appetite for the pricey products and services, because the site doesn't allow for Internet purchases.
China's ambassador in France, Kong Quan, highlighted how recent changes in the country - with its rapidly rising standard of living and population of 1.3 billion - have made it luxury's new El Dorado.
"Do you realize that 30 years ago, the three treasures in a Chinese household were a bike, a watch and perhaps a sewing machine?" asked Kong. "Today 1 million cars per month are sold in China and the car is no longer considered a treasure."
"I am convinced of French brands' ability to constantly create new high-end products that please Chinese consumers," he said, adding that organizers hope the site will initially reach up to 200 million people in China.
Speaking to The Associated Press, Dior CEO Sidney Toledano hailed the site as "an extremely original, creative and I'd say state-of-the-art way to communicate," with China's potential consumers.
French brands are present in nearly 70 Chinese cities, with 45 new boutiques opening between 2009-2010 alone, a statement from the Comite Colbert said.
MyWay
Someone wants some of those worthless dollars
posted by madtom at 2:14 PM
7 Comments:
Take a look at a chart of the declining value of the dollar before you dismiss my point. Then find a chart showing the base monetary supply over the last 50 years or so. you'll see some wavy horizontal lines that suddenly go way vertical at 2008-09. They had to reformat the pages to fit it in.
The idea is to not get stuck with them. The dollar today has declined in value over the last 10 years to .63 cents relative and the trend is picking up pace rapidly over the last 6 months. The money supply has been increased by a factor of 108% and climbing fast. That's the fastest rate of increase in over 50 years by a factor of 10. In 1970 Carter tried to pay debt by printing one tenth of the current relative amount and interest rates went to over 20 percent. Gold went from 35 to 850 per ounce over a few months time. No reason not to take dollars now, just run and trade them for something else ASAP. Unless the government can find assets to sell to pull the dollars back--- hyperinflation is in our future followed by the biggest fall in standard of living perhaps in our history. Right now our masters in China and Japan, with a nod from Russia, are propping us up, judging us too big to fail. Sort of like what we did for Mexico in the mid 80's, except on a MUCH larger scale. If they decide life will be easier without us, it will be third world time in the USA. The market is on a hair trigger playing musical chairs, hoping they are smart enough to not be the one left out when the music stops. At least the smart ones are. A lot of them are just delusional and know nothing but good times in a credit card nation.
What would I know anyway, I thought the economy was at a standstill, till I herd the news tonight. Now I know the recession is over...
Dude, I think most of our debates are show prep for the MSN. I don't think it's just Rush...
What I am finding fascinating is how the Obama gang is trying to bully ALL their critics right now. First if was Fox who they thought would be an easy target. Now the Chamber of Commerce, Edmunds, AP, and tonight---ABC!? They must be convinced their shit doesn't stink. It's true becaue they say it's true-- now go to your room!
They're amazingly incompetent in every facet of governing. They could hang their hat on campaigning, but even that's run out of steam. What would happen if you took an unaccomplished egghead affirmative action professor, surrounded him with radical Leftists and made him President? That might make a good comedy series, but it sucks in reality.
"That might make a good comedy series,"
C-SPAN as a reality TV show network.
Just read an analysis on the latest bond sales. Guess who is buying the excess (China is buying at a slightly lower rate than redemptions-- getting out slowly)? It's 'main street', you had it right! Indirectly. The too big to fail banks that got hundreds of billions of the Treasury's freshly printed dollars at zero percent interest are buying T-bills. That solves the Treasury's problem of printing money to monetize debt directly. NO, they wouldn't do that! That would be CRAZY! They tried it for a couple of auctions and got pushback from their Chinese masters. Instead, print the cash, give it to banks to buy the debt, prop up their hideous balance sheets allowing them to show great profits so we all feel better, and let the good times roll! Anyone with an ounce of common sense knows this is desperation economics. Certainly Treasury knows it, so either it's intentional to facilitate a goal of destroying the capitalist system, or things are very close to collapse and they are grabbing onto anything to stay afloat for another breath. And the Admin is kicking banks in the ass for not providing credit to main street as they are 'supposed' to do with the free money, while patting them on the head for keeping Treasury bills from skyrocketing with excess supplies.
"to do with the free money,"
But you know that is not new, money has been free for a long time, when the rate was equal to inflation that money was all free over the length of the loan...I wish we could pin it to this guy. But we can't.
What amazes me, is that we seem to repeat the exact same mistake over and over, an no one says a word...
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