Chinese Lunar New Year
Firstly and most importantly happy New Year to our readers who are celebrating the new lunar year!
Every year at Chinese Lunar New Year, western brands celebrate the festive occasion in different ways, often by creating products in the Chinese lucky colours or that takes inspiration from the animals of the year. Others create VM props to celebrate the occasion. In today's post we explore what brands are engaging in this Chinese Lunar New Year.
Jacquet Droz are releasing two year of the rooster Petite Heure minute watches. The two different dial versions offered in two versions a total of four limited edition choices, with only 28 pieces of each made. One version is hand-painted on the dial, while the other is a sculpted version, where an 18 karat gold rooster is sculpted by hand on the dial.
Adidas has gone all out on Chinese Lunar New Year; they have created a total of 5 trainers, two that are limited, while 3 are part of their classics. The first pair is a black and red prime knit version with the popular ultra boost sole, it has a round CNY logo on the tongue to mark the festive occasion. Another limited one is the EQT Support 96/16, which has gotten a Chinese New Year make over. The white trainer has a material that resembles the feathers of the rooster; this shoe also has the boost sole and colourful rooster embroidery on the back. A selected number of the EQTs while come in a special wooden box. Then there’s the CNY pack, which is the 3 classics, Stan Smith, Superstar and Tubular Radial made in black leather, also with the colourful rooster embroidery and special CNY insoles.
Burberry has a long history of celebrating Chinese Lunar New Year, incorporating it into the visual merchandising. They have also made special products, such as scarfs with Chinese symbols on it, red trench coats and small gifting items, such as key rings and wallets. When purchasing an item the customer receives a little packet of envelops, which is used to gift money. Last year they even made an app together with WeChat, where you could send special messages to people.
So why are these and many more brands celebrating Chinese Lunar New Year, when they aren’t Chinese brands? Chinese customers have become crucial to global luxury consumption, over 70% of all luxury goods purchased by the Chinese are purchased outside of the mainland and the period before Chinese New Year they spend even more. Key elements that drive the purchase behaviour during this period include family bonding, respect and the pursuit of prosperity. Giving the right gift shows both status and respect.
The Chinese luxury market and its customers are becoming more sophisticated in their buying power/ spend, with a younger and well-educated generation boosting the already growing market. In recent years however there has been rising criticism about the New Year designs, brands must be careful about how they go about combining Chinese elements and luxury products and ensure that it is done in a respectful way. Customers of Chinese New Lunar year don’t want to walk around with a red rooster for a whole year, so it is up to brands need to start thinking out the box about how to design products that are more than a seasonal trinket.