China Times Interviewed Professor LI Fei

When interviewed by China Times lately, the executive vice-director of CRRC Prof. LI Fei said, "The best business schools in China should not only solve the problems in the future development of Chinese economy but also the problems at present." Among the senior fashion management programs cooperated by CRRC and the Institute of Fashion Management (IFM) Paris and HEC Paris, LI Fei chose to study the luxury goods industry and teach in China.

In the cooperation with professors from IFM and HEC, LI Fei played more the role of a market analyst, analyzing the changes that are happening in the luxury goods industry in China. The demands for and consumption of luxury goods in China started to increase at the beginning of the 21st century and kept on increasing rapidly after 2005, with the distribution channel having shifted from five star hotels, such as Beijing Wangfu Restaurant, to luxury department stores. However, what is different in Chinese luxury goods industry from the West is that a new operation mode-joint operation-emerged and is still used in Chinese luxury department stores now. Under joint operation, the products in department stores are not displayed according to categories but brands. Actually, this is a concession that department stores made to international brands. In contrast, this mode has never been applied in the displaying of products in European and American luxury department stores, except for LV products. Prof. LI Fei said, "From the popularization of distribution channel and increase in demands for luxury goods, we can see that the luxury goods industry is prospering in China."

LI Fei also pointed out, "The life of fashion goods is short in terms of one single kind of products, but it's long in terms of brand, because new products can be continuously explored and the brand keeps growing. In this process, there are many interesting rules and historical continuity that need further discussion."

Source : CRRC
Time     : 2008-10-09

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