CHINA / Taiwan, HK, Macao |
PRD market has a 'luxurious future'(China Daily HK Edition)Updated: 2006-12-29 09:04 GUANGZHOU: The Pearl River Delta (PRD) region is a great place to be for global suppliers eyeing the mainland's burgeoning luxury market. That's exactly what was proved by two luxury shows held simultaneously in Guangzhou and Shenzhen in mid-December. On show were top sedan brands, such as Rolls Royce, yachts, private aircraft, precious arts and craft items, jewellery, state of the art furniture, villas and resort facilities. The organizers of the Top Show in Shenzhen said transactions worth more than 200 million yuan (US$24.66 million) were recorded. And though the organizers of Top Luxury (Guangzhou) China didn't reveal the exact figures, they said the show was fruitful and satisfactory. Liang Yixin, president of Boya International Group, which co-organized the Guangzhou gala, said the PRD region had produced a number of millionaires and a few billionaires, thanks to its booming economy in the past two decades. "They have a desire to explore new ways of life, making the local luxury market increasingly rosy," he said. Corroborating Liang, Wynn Macau President and General Manager Grant R. Bowie gave an idea about how fashionable and luxury oriented some people in the PRD region had become. "About 60 per cent of our guests are from the mainland, more than half of whom are from the PRD region," Bowie said. Wynn Macau is the only luxury resort that Stephen A. Wynn has invested in outside the United States, with just its initial phase entailing an investment of US$1.2 billion. Wynn Resorts Chairman and CE Stephen Wynn is commonly known as the "father of Las Vegas". Wynn Macau has recorded an average room occupancy rate of over 80 per cent since it opened in early September, Bowie said. A growing number of affluent people in the PRD region have been experiencing a new lifestyle, indulging in upscale spa and beauty treatments, shopping for the world's top brands such Bulgari, Chanel, Dior, Fendi, Giorgio Armani, Louis Vuitton, Piaget, Prada and Tiffany, dining at tables of globally renowned chefs, or simply relaxing in the deluxe accommodations during the weekends. Bowie said quality is very important for any luxury product and service. Citing the case of Wynn Macau, he said, the hotel has paid attention to every detail in its facilities and services. "Even the shampoo and bath lotion in each guest room are of renowned world brands, not to mention the furniture, the beds and other facilities." "The hotel's Italian restaurant not only has Italian chefs, but also uses raw materials imported from Italy. The same applies to the Japanese and Chinese restaurants." A luxury goods or service provider should take good care of its customers and meet all their demands. "That's the way to make a luxury product or service unique, which upscale people always want," Bowie said. With a rosy business forecast, Wynn Macau is now ready to expand its project. Market analysts say the mainland's luxury market is estimated to be worth US$2 billion a year, and the PRD region accounts for 30 per cent of that figure. |
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