CHINESE NEW YEAR - A GLOBAL AFFAIR FOR LUXURY

In addition to producing a massive amount of special-edition Chinese New Year luxury products, international luxury brands have embraced the upcoming holiday in a way highly specific to Chinese culture: by creating designer “red envelopes” for traditional Spring Festival gift-giving.

“Red envelopes,” or hongbao (红包) contain monetary gifts and are traditionally given during holidays and special occasions in China. The Lunar New Year and weddings are two of the most important times for hongbao giving, which usually involves married couples giving the cash-filled packages to unmarried relatives, especially children. Also known as lishi feng, or “lucky letters,” these cash-filled packages are a source of face for the giver.

One of the most widely celebrated holiday in the world, Chinese New Year has established itself as more than just a day - it is become a booming season. It could be a trend, through developing of Chinese economy, Chinese consumers have very strong power on purchasing luxury goods. So that, the luxury brands want to improve Chinese consumers loyal, they launched the Chinese New Year Envelopes to Chinese consumers.