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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition World China shifting to no-logo luxury says Chloe CEO AFP - Saturday, February 26 Send IM Story Print China shifting to no-logo luxury says Chloe CEO SHANGHAI (AFP) - – The tastes of China's wealthy are shifting away from designer goods with flashy logos to more understated luxury brands, the chief executive of French fashion house Chloe said Friday. That shift has helped Chloe become one of the Swiss luxury goods company Richemont Group's fastest-growing labels in China, its CEO said. "China has been very fast at picking up the most well-known brands," Geoffroy de la Bourdonnaye said in a group interview. "But they are now looking for the brands that are not necessarily on the top of the radar screen. They're looking for new interesting brands that bring something that other brands don't bring." De la Bourdonnaye was in Shanghai for a fashion show marking Chloe's fifth anniversary in China, which is expected to become Chloe's number two market after Japan within two years. China is the world's fastest-growing market for luxury goods and is forecast to be the world's top buyer of such products as cosmetics, handbags, watches, shoes and clothes by 2015, according to consultancy PriceWaterhouseCoopers. Chloe -- which counts fashion heavyweights Karl Lagerfeld, Stella McCartney and Phoebe Philo among its former artistic directors -- is currently helmed by British designer Hannah MacGibbon, who has assisted Philo. The fashion house specialises in ultra-feminine, casual clothes in muted colours designed to go straight from the catwalk onto the street. It plans to expand from 10 boutiques in China to 14 by the end of the year, including stores in the eastern city of Nanjing and the central city of Xian. Its number of employees is expected to soon double to 70, he said. "We have to be selective. We don't want to over-expose ourselves," de la Bourdonnaye said of the firm's expansion strategy in China. He said it was against Richemont policy to provide sales or revenue figures. The Frenchman took over as Chloe's chief executive in September after three years leading London's Liberty luxury department store. Before that, he was president of French couture house Christian Lacroix. He said Gaby Aghion, who founded Chloe in 1952 -- she turns 90 this year -- stressed the brand's understatedness when they first met. "She said with a big smile: 'I've always felt women are more beautiful naked', which for a designer of clothes is a very interesting statement. It shows the approach of Chloe is so different from other brands." Recommend Send IM Story Print Related Articles Nintendo launches 3-D console in Japan AFP - Saturday, February 26 US-ENTERTAINMENT Summary Reuters - Saturday, February 26 Oscar producers say show comes with youthful edge Reuters - Saturday, February 26 Charlie Sheen's rants put his career in doubt Reuters - Saturday, February 26 The bumpy budget road to Oscars glory AFP - Saturday, February 26 News Search Top Stories White House pushes Congress to avert shutdown Dior suspends designer Galliano over anti-Semitic clash N.Zealand says one-third of quake city faces demolition Defiant Kadhafi says 'we will beat them' Brazil's Vale reports record mining sector profits More Top Stories » ADVERTISEMENT Most Popular Most Viewed Toyota recalls more than 2 million vehicles 'Runaway millionaire' arrested in NZ: police Libya live report Discovery shuttle blasts off on last space odyssey Defiant Kadhafi says 'we will beat them' More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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