Lane Crawford Taps Into Chinese Lifestyle
Company president Andrew Keith talks about why selecting the right mix of goods for Chinese consumers is like conducting an orchestra.
JASON CHOW and
WEI GU
Oct. 20, 2013 11:43 a.m. ET
Few luxury brands have been in Asia as long as Lane Crawford, the department store founded in 1850 by Scottish merchants in Hong Kong. But until now, its expansion into mainland China, an important luxury market, has been slow, and has yielded mixed results. Last month, Lane Crawford returned to Shanghai with a new 150,000-square-foot store, after closing one in 2006. In the first half of 2014, the company is planning to open a new store in the western city of Chengdu, its fourth store in mainland China. The company is picking up speed at a time when affluent Chinese consumers start to look for good quality products beyond big brand names. Lane Crawford specializes in bringing lesser-known brands to Asia. Unlike most department stores in the region, which lease store space to individual brands, Lane Crawford buys its own inventory and attracts customers who trust its fashion choices. That means the company’s merchandising is key to the company’s success. Andrew Keith, the president of Lane Crawford and former head of its men’s department, spoke to The Wall Street Journal about why Chinese men are fashion trendsetters and why selecting the right mix of goods for Chinese consumers is like conducting an orchestra. Edited excerpts: Read more of this post
