The Place Vendome and its Surroundings have the Wind in their Sales

Since the beginning of 2009, the brands of the French Place Vendome in Paris did start some various and profitable approaches towards the Chinese customers. One used to believe that Chinese customers went shopping only at the department stores or along the Champs-Elysees and that free Chinese individual buyers did not exist. But the Place Vendome gives the proof of the contrary everyday.

Lets talk about sales results:
According to “Global Blue”, the leader institute concerning duty-free shopping which works with most of the Parisian brand names, “the duty-free turnover made with the Chinese tourists has increased by 80% up between 2008 and 2009. In the Vendome area and for the first time, the Chinese tourists average basket overtook the Russian’s one; more than 2.700 Euros have been reached on their side against 1.800 Euros on the Russian’s. On the Place Vendome duty-free market, they stand at the fourth place behind the Japanese, the Russian and the US customers”.

China Union Pay Sales Figures

On the other hand, the China Union Pay Card compares the results running from January until May 2010 to those from January until May 2009: The Paris (France) total turnover has increased by 20% up. As for the Place Vendome’s share in the sales made in Paris, it has gone up from 6% to 12% of the total turnover which means a 2,5 points progression.

What has been done by the brands of the Place Vendome ?

By the end of 2008, Zhenji (the new name of the Chinedge company) suggests that the Vendome Committee should prepare the “Place Vendome and its surroundings” special supplement with the upmarket lifestyle Chinese magazine “Target” , supplement which would be delivered to 100.000 HNWI readers in Mainland China.
The objective should be dual:
First, introduce the great number of famous establishments of the Place Vendome in order to give the Chinese people to understand that here is the Parisian spot for luxury goods.