The Research Of Chopard Watch And Jewelry Development Strategy At China Luxury Market

As a result of fast growing economics, the income of Chinese people increased a lot in the past decades. Those magnates and booming middle class keep the consumption market prosper continuously. Their rising passion on luxury products seduced every foreign luxury brands to explore China market. Although there are a lot of difficulties and challenges, and unsatisfied mechanism for investors, China remains its attraction and now become the wonderland of international luxury groups.Being the National Sales Manager of Chopard Watch & Jewelry, I want to carry out an effective and feasible development strategy by analyzing and studying the features of China Luxury Industry, and help my company to enter the market smoothly.The thesis analyzed the background of luxury industry by explaining the characteristic of luxury products and the formation of China Luxury Industry. It then revealed that the major target customers are built up by not only millionaires, but also well-paid middle class. Plus the appreciation of RMB, fast growing oversea tourism and government support enlarge the potential of the market and booming the industry within very short period.I also put comments on the Luxury Consumption Tax, which was released this April. I thought it is the sign that our government began to play the game by international convention and using tax to balance the gap between rich and poor. I also narrated the aftermath of the policy to individual industry and concluded that developing China market still needs steadiness and peaceful mind.In the following text, I analyzed some major competitors to Chopard, locally and internationally, by seeking my past knowledge. Then answered the question of how to become a renowned brand in China through explaining the reason why all those giant groups exploring this market in such big scale and how they did marketing promotion all these years.My article also checked the development course of local luxury brands. I analyzed their pros and cons: the heritage of Chinese long history and amazing productivity but lack of systematically organization and branding management experience. As a result, local luxury brands are yet to be put on the table, and Chopard should grab the opportunity to enter China market.Upon the conclusions drown from above paragraph; I used SWOT method to do a self-appraisal to Chopard. After reviewing every detail point, I fully understood the advantage and disadvantage of the brand. By comparing different format of sales channel and shopping area that been used by every existing competitors, I made the decision with Chopard characteristics. Including found a qualified local trading company to form a joint venture to exploring China market, developing second and third tier city via retailers and test rural market by using professional watch shops.Last but not least, I secured the success of the strategy by setting more steps, such as: collecting customers'feedback, using CRM computer system, using well-known celebrities as brand ambassadors and enhance retailer management etc., they are all coming from studying and summarizing the helpful experience of other brands.