Bulgari CEO Jean-Christophe Babin On China Expansion, E-Commerce, Innovation [Forbes]
JD.com, Inc. - American Depositary Shares (JD)
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Source: Forbes
Bulgari CEO Jean-Christophe Babin On China Expansion, E-Commerce, Innovation "If we absorb our digital learning from China in our other markets, we will be better competitors in the rest of the world," Bulgari CEO Jean-Christophe Babin said in an interview in Chengdu on April 30. The importance of Chinese consumers to the luxury industry was underscored anew in a report by McKinsey last month that put that group on track to account for 40% of the market by 2025. Some 65% of new purchases by 2025 will come from Chinese spenders, the consultancy said. No segment of the Chinese market is more important than the millennial and Gen Z shoppers. Owing to China’s one-child policy, many have no siblings and benefit from dotting, financial and other support from their parents and two sets of grandparents. Their tastes are global and lives are fully interwoven with the Internet. That landscape presents ample room for new business and innovation for Bulgari, a leading jewelry and watch brand un
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