Hong Kong's pursuit of luxury defies Western gloom
Hong Kong's pursuit of luxury defies Western gloom
Yahoo News Live: Chaos continues in Congress
Unlock your personal NFL Now stream by signing in to NFL.com
SHOTLIST: HONG KONG, APR 23, 2013, SOURCE: AFPTV +Please note all price tags shown are in HKD+ -VAR of iPhone cases encrusted with diamonds and gold SOUNDBITE 1 Alexis Baron (man), customer (French, 9 sec): "When you have an accessory like an iPad that is very standard, either white, either black, you want to customise it, to have something a little bit original instead of the same smart cover as everyone else." -VAR of iPhone cases encrusted with diamonds and gold SOUNDBITE 2 Alexis Baron (man), customer (French, 9 sec): "Since you are buying something at, I don't know, X Hong Kong dollars, you can often add 20 to 30 percent to get something really customised, with leather, cashmere or anything else." -WS of customer SOUNDBITE 3 Kenzo Leung (man), Retail chain & development manager, DG Lifestyle Store (English, 13 sec): "According to our sales, the diamond and gold iPhone and iPad are actually selling pretty good. And the sales are increasing since the shops have opened." -VAR of iPhone cases -VAR of iPad cases /// ---------------------------- AFP TEXT STORY: Lifestyle-HongKong-China-luxury,FEATURE Hong Kong's pursuit of luxury defies Western gloom by Beh Lih Yi HONG KONG, China, April 25, 2013 (AFP) - A gold, diamond-encrusted iPhone gleams in the window at a shopping mall in Hong Kong, its US$25,000 price tag a symbol of the city's luxury excesses fuelled by cash-rich Chinese tourists and wealthy locals. The custom-built device boasts a rose gold chassis ringed with a combined 7.28 carats in diamonds that also spell out the number "5" on its back, loudly announcing that this is indeed an Apple iPhone 5 -- albeit with a difference. Despite the gloom in the West and a slowing expansion of China's economy, free-spending Chinese consumers and wealthy Hong Kong locals craving exclusivity have proven a blessing to retailers looking to buck global woes. From gadgets decked out in jewels to made-to-order men's shoes and ladies leather handbags or Rolls Royce cars with monogrammed seats, Hong Kong continues to benefit from the influx of newly rich mainland Chinese searching for authentic goods and lower sales taxes. "They don't care about the price," said store manager Cytheia Lui, surrounded by gadgets ranging from shiny gold-plated iPad covers to multi-coloured laptops and headphones. "For them the attitude is: if you use an iPhone and I use an iPhone too, why should we have the same one?" Lui said that a mainland Chinese customer placed an HK$800,000 ($103,000) order for 70 custom-made iPhones, which he planned to give away as gifts. Global luxury brands continue to pin their hopes on China's rising middle class as Europe slogs through its debt crisis, US growth remains weak and Japan's economy fails to gain traction. Despite weaker-than-expected luxury goods demand in China last year as its new leadership vowed to crack down on corruption and official excess, China is still forecast to be the world's biggest luxury goods market by 2020. Lower sales taxes and authentic products lure shoppers to Hong Kong's luxury malls. In Hong Kong, brands such as Italian label Salvatore Ferragamo offer customers a choice of personalised handbags with up to 40 colours made from lizard, python or ostrich skin at premium prices. Swiss watchmaker Rolex offers bespoke dials. Although conspicuous consumption and big-spending tourist trips are welcomed by businesses, the influx of visitors from the mainland has not been welcomed by all in Hong Kong where locals complain about an extra strain on the crowded city's public services. High-end shops and boutiques have been seen to help drive the sky-high rents that have forced decades-old shops and restaurants out of business, prompting warnings that the city is selling its identity. Yet the thirst for luxury remains unquenched. UK-based luxury craftsman Stuart Hughes, who recently designed the "world's most expensive iPhone" valued at a whopping US$15 million said more than two-thirds of his customers come from mainland China and Hong Kong. The work was commissioned by a Hong Kong businessman who asked Hughes to incorporate a 26-carat black diamond into the phone. "The Chinese have got a lot of spending power in terms of buying for themselves or buying as a gift for people. "They want a nice, different phone. They want extra modifications to make it look unique," said the 42-year-old designer. END
Yahoo News Live provides the latest information on breaking news and an in-depth look at the biggest story of the day. Watch live weekdays Monday-Friday at 1pmET.
James Popsys first toyed with photography while taking snapshots on a trip around the world. But once he discovered Photoshop’s tools for creating new realities, and not just shooting things that already are, he knew he’d found a passion for a lifetime. His whimsical photos meld London landmarks with surreal and humorous elements, re-imagining daily life with a dose of magical realism. James sees his photos as an antidote to our modern “selfie culture”.
Millennials and money: we talked to a handful of people, aged 24 to 30, and asked them about their saving and investing habits. The clueless millennial contingent certainly exists, but there are others who will surprise you with their knowledge.
Tom Bleasby flew all the way from England to be on Ellen, Thursday afternoon. Tom has been a big fan of Ellen for years but it turns out that Ellen is a big fan of Tom as well. Using the Smule app, Tom made a duet performance of singer Jessie J's "Flashlight" and it garnered over 22 million views. Ellen asked Tom to perform on the show and then surprised him by having Jessie J come out and sing with him. It was a very touching moment.
Rolling Stones guitarist Keith Richards talks about the overwhelmingly positive critical response to his third solo album, 'Crosseyed Heart,' and getting the Stones back in the studio for the first time in ten years. (Oct. 9)
Community Episode 1: Ladders
Community Episode 2: Lawnmower Maintenance and Postnatal Care
Community Episode 3: Basic Crisis Room Decorum
Community Episode 4: Queer Studies and Advanced Waxing
Community Episode 5: Laws of Robotics and Party Rights
Community Episode 6: Basic Email Security
Sin City Saints Episode 1: The Fool Monty
Sin City Saints Episode 2: Smoke and Mirrors
Sin City Saints Episode 3: Gone Catfishing
Sin City Saints Episode 4: Mrs. Wu's Tang
Sin City Saints Episode 5: A Basket Full of Rainbows
Sin City Saints Episode 6: You Booze, You Lose