Luxury houses keep on looking for new ways to reinvent themselves and stay attractive in a very competitive industry. Consumers are always expecting new, innovative products or campaign and major brands are very prolific in the area.
China has been a particularly dynamic market with a growing interest from consumers for western brands but also a keen appeal for niche local brands, especially among Gen Z who likes to experiment with scents.
London luxury department store Harrods has catered a unique private shopping model in China. Instead of opening a typical storefront, the retailer launched the Residence Project in Beijing in June 2020 and Shanghai in December 2020.
Cross-industry collaborations are quite common in Asia, and beauty is a sector all companies want to invest in. Proof is this recent partnership between two Korean powerhouses, Samsung and Laneige, which was a real success.