Erwan Rambourg - The Bling Dynasty: Why the Reign of Chinese Luxury Shoppers Has Only Just Begun

China's volatile demand for luxury has left industry executives scratching their heads. How much longer will anti-corruption measures weigh on sales? Are Chinese becoming more value-driven as they travel more and more sophisticated? Ultimately, how should global luxury brands set their pricing, supply, store openings, and digital strategy to capture Chinese consumers? The Bling Dynasty is an insightful read for luxury managers, consultants, and anyone who wants to understand consumption trends and China's role in shaping them. As a former marketing manager in the industry, author Erwan Rambourg understands how the brands operate inside and out. As a co-head of global consumer and retail equity research at HSBC, he has taken his analytic depth to his first book, filling it with interesting numbers and interviews with executives. Mr. Rambourg has a unique background as a Frenchman growing up in the U.S. and being based in Hong Kong for the past four years has given him a front-seat view of how the Chinese consumers operate and a broad perspective of the often opaque global world of luxury.

Wei Gu, Wall Street Journal editor for China wealth and luxury

The Bling Dynasty puts doubters of China's appetite for luxury goods to the back of the queue. Erwan Rambourg's clever use of avatars to portray the true nature and extent of the huge desire for luxury goods in China makes this informative but also easy read. It is a must for anyone hoping to understand what drives the consumers of the world's second largest economy. Rambourg, based in Hong Kong at HSBC, is one of the leading experts on the luxury goods sector and in The Bling Dynasty he successfully combines well-researched data with access to the real shoppers on the street.

Laura Chesters, business reporter and luxury goods specialist at LondonEvening Standard and The Independent

Erwan Rambourg adopts an engaging, conversational voice to explain the complexities of the Chinese marketas if inviting his readers to a dinner party at his Hong Kong flat. He answers the questions on so many minds with clear explanations peppered with parables, literary references, hard data and genuine, wide-eyed discovery.

Miles Socha, European editor of Women's Wear Daily

In this book, Erwan Rambourg has managed to combine his vast knowledge of the luxury goods sector with ideas drawn from his personal experience as a Westerner who has re-located to Hong Kong. The result is an interesting and entertaining viewpoint of the Chinese consumer and of the luxury goods world in general. In a simple but efficient manner, the book covers an important and current issue in a way that allows the reader to view the dynamics of the world of luxury goods from an unusual perspective. I particularly enjoyed being able to re-visit, through the book, some of the feelings that I have experienced during my many visits to Asia.

Diego Della Valle, Tod's group chairman and CEO

Erwan Rambourg knows the luxury goods industry inside out. His on-the-ground work in China yields deep insights into the mind-set of the local consumer and a clear analysis of the unparalleled opportunities this market offers to attractive, global brands.

Claus-Dietrich Lahrs, chief executive officer, Hugo Boss AG

Erwan Rambourg is a marketer, an analyst, and a thinker and has used his broad experience of the luxury industry to write The Bling Dynasty a bit like an international correspondent. He's exploring China, the new Eldorado for luxury, and his inside knowledge and the focus on consumers have produced an analysis that is both sharp and concrete. A few memorable moments as well as a very personal touch make this book very informative and entertaining to read.

Francois Le Troquer, executive director luxury division, Watches of SwitzerlandMappin & Webb

China's middle class holds the key to the future of luxury. Erwan Rambourg demonstrates this with extensive insights into both the luxury industry and what Chinese want.

Francis Belin, senior vice president Asia Pacific, Swarovski Consumer Goods Business

Through firsthand knowledge and unique facts and anecdotes, The Bling Dynasty provides an in-depth analysis of one of the most important markets for luxury brands, China. Erwan shares his insights with incisive scrutiny and wit, and offers a unique perspective on a sector that is both abundantly discussed yet still filled with misconceptions.

Ketty Pucci-Sisti Maisonrouge, luxury entrepreneur, adjunct professor at Columbia Business School, associate professor at IE Business School, author of The Luxury Alchemist

I have been speaking with Erwan Rambourg for years and have benefited considerably from his ideas. Anyone who wants to understand the luxury market must first understand the Chinese consumer. The Bling Dynasty is a must-read for investors, marketers, or anyone who wants a deeper understanding of the future of luxury in China.

Robert Dunphy, portfolio manager, OppenheimerFunds

Erwan Rambourg

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Cover design: Wiley

Copyright 2014 by Author/John Wiley & Sons Singapore Pte. Ltd.

Published by John Wiley & Sons Singapore Pte. Ltd.

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Library of Congress Cataloging-in-Publication Data

ISBN 9781118950296 (Hardcover)
ISBN 9781118969717 (ePDF)
ISBN 9781118969700 (ePub)

In memory of my father

To all the contacts within the groups, the brands, their suppliers, the retailers, the media, thank you for sharing your enthusiasm and insights. Keep 'em coming! Former colleagues, colleagues of former colleagues, friends, friends of friends, and more: I will not name you to avoid the embarrassment but I'm very grateful for your time.