French Brands To Promote Luxury In China

As of November 27, the Comité Colbert, France's union of luxury brands, will lend its help in developing Chinese creative industries, after signing an agreement with the People's Republic. According to WWD, the signing took place during a formal visit to the country of baguettes and berets by Chen Deming, China's minister of commerce.

This agreement will allow us to find organizations in China that would be willing to join us in advocating the values specific to creative industries: respect for intellectual property rights, the transmission of know-how and ethical conduct," the Comité Colbert's CEO, Elisabeth Ponsolle des Portes, said.

This alliance follows the recent introduction of another initiative by the committee.

The launch came as consultants Bain et Company said luxury goods are expected to slump 16 percent this year on the US market, 10 percent in Japan and eight percent in Europe -- but see a 12 percent hike in China.

Last month marked the inauguration of a new web portal, www.ccolbert.fr, to promote French luxe products in China. The Asian nation is home to the fastest-growing markets for such high-end companies as Louis Vuitton, Cartier, and Hermes.

Though the agreement was meant for both countries to enter into dialogue, it is currently “lacking concrete commercial implications.” These efforts come at a good time, considering Chinese branding has been a bit ferklempt lately.

In order to further such an intense attempt at branding, China and France better get their act together, or this whole plan will be an international waste of money.