Latest news with #luxury brands
Yahoo
a day ago
- Business
- Yahoo
Radico Khaitan strikes JV with D'Yavol Luxury Collective
Indian spirits company Radico Khaitan has entered into a partnership with Bollywood actor Shah Rukh Khan and his son Aryan Khan's venture, D'Yavol Luxury Collective. The collaboration, which also involves Zerodha co-founder Nikhil Kamath, will see the launch of D'Yavol Spirits. Radico Khaitan will hold a 47.5% equity stake in the new entity, with Aryan Khan and Bunty Singh from the D'Yavol team jointly owning 47.5% and Kamath retaining 5%. In a filing on the stock exchange, Radico Khaitan said D'Yavol Spirits will 'build internationally relevant, bottled-in-origin luxury brands'. Radico Khaitan told Just Drinks the new entity will house existing D'Yavol brands – including a vodka and two whiskies – and oversee new launches. The venture's first new product will be a Tequila. The Rampur whisky maker will take charge of marketing and distribution, backed by an investment of up to Rs400m ($4.5m). Abhishek Khaitan, managing director of Radico Khaitan, said: 'With D'Yavol Spirits, we are entering a bold new chapter, combining our proven expertise in blending, marketing and distribution with the charm and charisma of the global icon Shah Rukh Khan, entrepreneurial spirit of Aryan Khan and Nikhil Kamath's disruptive and visionary outlook.' SLAB Ventures BV, based in the Netherlands, is the parent company behind the D'Yavol Luxury Collective. The collective's previous distribution arrangement in India with AB InBev ended in December. Radico Khaitan said the venture extends into brand development, sales, and marketing, with the company working with the D'Yavol team on new products. SLAB Ventures remains the parent of the wider collective, registered as a private limited company. Leti Blagoeva, CEO of D'Yavol Spirits, added the new 'collaboration opens up an exciting new chapter and we look forward to bringing our consumers even more exceptional experiences'. Earlier this month, Radico Khaitan reported 'record' quarterly sales, with a 32% increase in net revenue from operations in the three months ending 30 June to Rs15.06bn. "Radico Khaitan strikes JV with D'Yavol Luxury Collective " was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
12-08-2025
- Business
- Zawya
GCC Luxury Brands must adapt: New report uncovers game-changing insights into Chinese consumer behaviour
CXG, a globally respected leader in customer experience transformation and a trusted partner of over 220 luxury brands in ever-evolving markets, has delivered a pivotal new report titled 'Understanding Chinese Luxury Customers' Sentiment in 2025 and Preparing for the Future.' Examining shifting behaviors across key demographics, this in-depth study reveals key insights into the current and projected priorities of China's affluent shoppers and how this affects international luxury brands in the region. This report delivers critical insights for Maisons, fashion houses, and premium retailers seeking to maintain their leadership and relevance among luxury's most influential consumers. In a market valued at approximately CNY 800 billion (USD 110 billion) in 2025, the report offers fresh, data-led insights into evolving Chinese consumer sentiment, providing critical intelligence for European and GCC luxury brands navigating a rapidly shifting landscape. Economic Confidence Is Faltering and Reshaping Spending Habits CXG's report shows that only 55% of Chinese luxury consumers are currently confident in an economic recovery. This is a marked decline from 83% in 2023 and has led to changing patterns of wealth management. 64% of respondents say they intend to save more over the next two years, with 83% feeling the need to secure their health, 68% reserving funds for future indulgence, 49% building a nest egg for retirement, and 46% planning for their children's education. This cautious approach has led to heightened price sensitivity. 54% of Chinese consumers now actively seek the best prices on luxury items, and 48% have already purchased 'dupes' (lower-priced alternatives), with a further 47% open to doing so in the future. The trend is particularly strong in apparel and accessories, where 67% and 64% of shoppers respectively are open to alternatives. Additionally, the weak yen is attracting luxury buyers to Japan, now the preferred destination for 40% of Chinese consumers, up from just 8% in 2023. This does not mean, however, that the appetite for high-quality products and services has diminished. 81% of survey respondents say they intend to resume luxury purchases such as watches and jewelry as soon as the economy improves. Gen Z, meanwhile, is leading a present-day increase in spending on well-being, luxury travel, and experiential entertainment. The Rise of Experiential Luxury In line with global trends led by Gen Z, China is seeing a shift in preferences away from objects and toward experiences. This increases the value of travel, leisure, wellness, events, and entertainment, all of which the report indicates are likely to see an upturn over the coming months and years, regardless of the economic environment. 53% of CXG survey respondents plan to increase their spending on well-being, 49% on luxury travel, and 34% on entertainment. Cultural Nuance: The Edge for Local Brands Though Western brands are still considered more prestigious by most, China's homegrown luxury products are now becoming increasingly valued due to the very nature of being locally created and owned. While the primary motivation for Gen Z's embrace of Chinese products is affordability, 75% of Millennials and 86% of Gen X respondents have cited cultural relevance as the most important factor in choosing local products over international equivalents. With 72% of all buyers now believing China's domestic brands better reflect their own heritage, competitors outside the region must invest in more localised and meaningful storytelling to maintain or grow their connection with Chinese consumers. The Store Strikes Back: In-Person Retail Still Dominates CXG's report also found that today's younger generations prefer making high-value purchases in multi-sensory in-person environments rather than through more remote online channels. This is particularly the case for purchases over CNY 15,000 (USD 2,000), with tactile shopping and personalised service valued highly at this level of spending. However, a significant finding of the report is that these desires are not always adequately met. Retail satisfaction varies significantly, with some categories scoring as low as 23–36% on customer advocacy. This presents an opportunity for European and GCC brands, especially those with flagship stores in Milan, Paris, or key GCC cities such as Dubai and Riyadh, to lead on retail experience through exceptional service, heritage storytelling, and personalised in-store experiences. CXG's report is both a reality check and a roadmap. From immersive retail and cultural storytelling to hyper-personalisation and human-led service, it outlines clear steps for luxury brands to maintain relevance in a complex and fast-changing market. About CXG: CXG is a leading data-driven consulting and solutions provider specializing in innovative strategies to elevate customer experiences and optimize the performance of premium and luxury brands. With years of expertise from partnerships with over 220 iconic luxury brands, we guide our clients through every step of their Customer Experience and Employee Experience journeys, delivering insights and driving impactful change. We understand that customer needs are constantly evolving, and our tailored solutions are designed to meet these dynamic demands, making us the ultimate one-stop-shop for all CX transformation needs. Founded in 2006, CXG has grown into a global powerhouse, with 12 offices (including one IT hub in Tunis) catering to 85 countries and a team of more than 260 professionals. Through its expanding network of customer experience experts—comprising evaluators, learning consultants, and strategic advisors—CXG empowers luxury brands to elevate their experiences worldwide with a localized approach.
