Louis Vuitton, Christian Dior, Jimmy Choo, Chanel, Gucci, Ferrari and Maserati…these brands have all made their home in one of China’s most economically developed cities, Shanghai.
This past July, I had the pleasure of embarking on a month long trip throughout China, and Shanghai was by far one of my favorite destinations. A big, bustling city with endless sights to see and people to meet, it was at the peak of tourism traffic this past month. Currently hosting the 2010 World Expo (more on this in a future post), the city was loaded with tourists and businesspeople alike.
Shanghai plays host to some of Fortune 500’s biggest companies–including Walt Disney and Kraft. During my stay, I had the chance to visit the Shanghai World Financial Center, located in the world’s second tallest building.
It’s a city that thrives on exchange: cultural exchanges, business exchanges, and more. As China’s largest port and center for trade, its residents also have the highest disposable incomes in the country. It’s no wonder companies flock here the way hawks circle a fresh target.
Although recent statistics show a decline in exports, Shanghai still proves to be one of China’s greatest assets. Just ask Ermenegildo Zegna, one of Milan’s biggest luxury fashion brands.
As CEO Gildo Zegna very simply puts it,
“China is a very important part of this growing process, together with India, and the New World,” Gildo says. “If you don’t get it (the market), I think you go backward. These countries keep you energetic.”
Head designer Alessandro Sartori agrees:
“Shanghai is a fashionable city. It is probably the most fashionable city in China. Milan is where we were born, and Shanghai is where our future lies.”