Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 10 pages
Data source: Published sources
Topics:
China's luxury retailing industry; China's consumer behaviour; Saks Inc; Market entry strategies; Late movers' advantage and disadvantage; Purchasing power, gross domestic product (GDP) and consumption; Competition; Cosmetics and personal care products; Joint venture, partnership and alliance; Roosevelt China Investments Corporation; Procter & Gamble (P&G), Giorgios Armani, L'Oreal, Shiseido; Department stores
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Abstract
Since its economic reforms in 1978, increasing purchasing power in China, coupled with growth in private consumption and growing awareness of luxury goods, have fuelled the growth of the market for luxury products. It is estimated that by 2015, China would surpass the US and Japan as the largest luxury market in the world. To cash in on such growth potential, Saks, one of the leading high-end luxury department chains from the US, is planning to foray into China. This case is structured to enable students to: (1) discuss and debate the impact of economic reforms in China on luxury retailing in the country; (2) understand the success factors in China''s luxury retailing industry; and (3) discuss the market entry strategy of Saks in China.
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Abstract
Since its economic reforms in 1978, increasing purchasing power in China, coupled with growth in private consumption and growing awareness of luxury goods, have fuelled the growth of the market for luxury products. It is estimated that by 2015, China would surpass the US and Japan as the largest luxury market in the world. To cash in on such growth potential, Saks, one of the leading high-end luxury department chains from the US, is planning to foray into China. This case is structured to enable students to: (1) discuss and debate the impact of economic reforms in China on luxury retailing in the country; (2) understand the success factors in China''s luxury retailing industry; and (3) discuss the market entry strategy of Saks in China.