Industry News – Luxury Goods

General Images Around MacauLargest Luxury Goods’ market in the world after Japan, China promises a bright future to those established or trying to establish into the market.

2012’s recruitment levels have been booming and remained high all along, but the first months of 2013 show slight slowdown. This is due to the economic environment – a slight decrease in global growth, and national government policies to track corruption. Despite these factors, recruitment in the sector is expected to take off again in the third quarter this year, as the economy forecast looks positive and companies plan to open a significant number of new stores across the country, in 1st, 2nd as well as 3rd tier cities. In order to support the development of their sales, these new store openings will be looking for retail operations, merchandising, as well as PR & Marketing staff mostly.

Recruiting quality workforce is even harder for less-known luxury brands, which have to offer better benefits to attract talent.

This boom in demand from the luxury goods sector is accompanied with a similarly high talent shortage mainly due to the relatively new existence of the market in China. When it comes to executive level positions requiring experience in the industry and significant international exposure, many companies often turn towards Hong-Kong, Taiwan, or Singapore talents, where the luxury market is already mature. Recruiting quality workforce is even harder for less-known luxury brands, which have to offer better benefits to attract talent.

In the next ten years, the Luxury Goods market will be developing fast, led by a very high consumption. This is certainly a very promising market for skilled and motivated candidates.

By Grace Zhang, Luxury Goods manager, Antal International China (Shanghai)

antalCourtesy of Antal International Executive Consultancy

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