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China: the new battlefield for luxury brands. Leo. Contents. 1. Bicester Village’s success. 2. Why do so many Chinese keen to buy luxury goods overseas?. 3. Luxury brands are arriving at the Chinese market. 1. Bicester Village’s success. All for Chinese consumers!.

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contents
Contents

1. Bicester Village’s success

2. Why do so many Chinese keen to

buy luxury goods overseas?

3. Luxury brands are arriving at

the Chinese market

slide11

2. Why do so many Chinese keen to

buy luxury goods overseas?

example
Example
  • Price:100 pounds
  • 1 pound = 10 yuan RMB
  • Import tariff rate 15%
  • Value added tax rate 17%
  • Consumption tax rate 30%
example1
Example
  • CIF price: 100 x 10 = 1000 RMB
  • Tariff: RMB 1000 x 15% = 150 RMB
  • Value added tax:
  • (1000 RMB + 150 RMB) x 17% = 196 RMB (rounded)
  • Consumption tax:
  • [(1000 RMB + 150 RMB) ÷ (1-30%)] x 30% = 493 RMB (rounded)
example2
Example
  • After-tax price:
  • 1000 RMB+ 150 RMB+ 196 RMB+ 493 RMB

=1839 RMB

  • Final price:

After-tax price + Transport fee + Profit of importer+-------- > 2000 RMB

example3
Example

CIF price

After-tax

Final price

RMB 1000

RMB 1839

RMB 2000

slide16

Chinese luxury

consumption groups

wealthy consumers

young

white-collar

slide17

The main reason is

the difference of consumption concept

slide20

Suzhou

village