NEW HORIZONS: Chanel plans to stage its first major event in China because the outbreak of the coronavirus pandemic, with a repeat showing of its cruise 2024 collection scheduled to be held in Shenzhen on Nov. 2.

“As China’s capital of design, innovation and high technology, this destination, open to the world, creation and the longer term, is the newest of the numerous stopovers made by the Chanel cruise collection,” the French luxury brand said in a press release on Thursday.

Positioned on the Pearl River Delta bordering Hong Kong, Shenzhen has grown in the midst of several many years from a fishing village into the capital of China’s Silicon Valley, with a population of 13 million.

It ranked at number eight worldwide within the list of cities with essentially the most billionaires published by Forbes in April, just behind Mumbai and ahead of Singapore, making it a magnet for luxury brands searching for to expand their retail network.  

Chanel opened its first boutique in Shenzhen in December 2021 within the Nanshan District, home to a few of China’s largest technology firms. The home has 15 boutiques in China, along with two stores dedicated to shoes, considered one of which opened on the SKP mall in Beijing in March.

This can be its first major event in mainland China because the “Mademoiselle Privé” exhibition in Shanghai in 2019. Prior to that, Chanel staged a duplicate of its 2016 Métiers d’Art show in Beijing in 2016, in addition to a repeat show of the cruise 2018 collection in Chengdu in 2017.

The cruise 2024 line was presented in Los Angeles on May 9 with a show at Paramount Studios attended by celebrities including Margot Robbie, Kristen Stewart and Elle Fanning.

With waves of tense lockdowns and rounds of crackdowns on the tech, real estate and entertainment sectors in 2022, China’s personal luxury sales contracted for the primary time in five years, in keeping with Bain & Co. It expects the country to return to 2021 sales levels between the primary and second half of 2023.