Oliver D.Stocker, a former investment banker moved to Hong Kong from London this month. He has spent many years in Asia before buying the auction house in 2002, and this time he is aiming for galvanizing Asian growth.

Being a good leader or CEO, Oliver ‘s movement to Hong Kong with his whole family expressed an important message to the customers and employees——He is confident of this place, and determined to pay a long-time effort here. This action would also bring confidence to the customers  of Oliver, and the employees enthusiasm towards work will grow at the same time.

A growing number of senior executives from large non-asian companies have now moved to cities with lots of business opportunity like Singapore, Hong Kong, Shanghai etc.

This phenomenon appears in recent years but the tendency is growing fast because while those western companies are suffer and struggle locally, Asia’s appetite for luxury goods and consumer becomes a key engine for them.

In the past ten years, as the Asian spending power highly improves, auction industry also  transferred their target market to this land. Hong Kong,for example, now ranks alongside New York as a Center for such sales.

For Oliver, Hong Kong will the most important long-time investment market for stamps and money collection.

“But you have really seen Asian buyers picking up steam and momentum over the past decade,” he said. “The region is the fastest growing in the world.”

Asian buyers of collections now account for one-third of the whole world. Not only for auction companies, but also most luxury goods company, like hermes, louis vuitton, Tiffany&Co. changed their vale proposition, their designs are increasingly in line with asian tastes to attract more eyeballs from Asia. Tiffany&Co just had a jewelry appreciation which is equivalent to the ones in New York and Europe in July and almost all those companies opened several new big stores in Hong Kong, Singapore and Shanghai because THIS IS A PLACE WITH HIGH-POTENTIAL.

HONG KONG ‘S Economic Development

Source:

On October 4th, Riot Games company has announced an all-new challenger competition for League of Legends (LOL). This event will run in tandem with the League championship series in 2014 through their partnership with Coke Zero.

Riot Games is a direct-to-consumer video game developer established in 2006. The company’s development is really fast, it becomes one of the leading global developer through launching their debut title, League of Legends. More than one million gamers play League of Legends and log more than half a billion minutes of playtime each month!

More and more teenagers and even adults addicted in video game in today’s society. This has become the opportunity for Riot Games Company. The design of the game LOL and its good reputation, as its strengths, attract more players, not only in North Ameriaca, but in the whole world.The huge Asia market became one of the target segments of Riot. In 2007, Riot cooperate with Tecent, the largest chinese investment holding company. LOL was officially introduced to the Chinese Market, and brought millions of video game players immediately. With the large number of customers, LOL fans, Riot Co. launched the championship every year in California, millions people from different country would stream it online to win the 2 million prize pool, and 11,000 seats were sold out in the arena to watch the game. This also gives the company an opportunity to make large profit.

LOL World Championship (youtube Link)

Work Cited:

http://www.gamespot.com/articles/riot-games-reveals-new-league-of-legends-challenger-series/1100-6415344/

Margolis, Jacob. “Take Two.” KPCC. N.p., n.d. Web. 08 Oct. 2013.

Only three days after the releasing of new iphones, Apply announced that it has sold a record-breaking nine million new iPhone, which is the best phone launch in the history.

The official price of iphone 5s is identical to the precious iphone 5, however, the golden iphone 5s’s price went surprisingly high in the grey market in China, US$1,634, which is almost the doubling price of the official price. This happened not only in mainland china, but also in the special region, HongKong. Hundred and thousands scalpers waited outside the Apple store on the launch date of new iphones. Those people who successfully bought gold-colored iPhone 5s were able to resell at a double price immediately. While the golden 5S ordering has been out-of-stock until mid-october only three days after its releasing,  the 5Cs are available to buy in 24hours.

Due to the number of population and consuming ability, Apple has slowly developed a value proposition mainly targeting the chinese market in these several years. Although there are lots of other brands of smart phones which have the similar function to iPhone, there isn’t any gold-color ones so far, chinese people’s enthusiasm towards the color gold make iphone 5s benefits from the market. A new economic bubble (price bubble) formed at the same time. With the similar function and material used for iphone 5 and 5s, 5s is trade in high price which is considerably at variance with intrinsic values.

The situation appears to be very similar to the release of a digital camera of Casio several years before. When the Casio TR-150 was released in 2012, it only sale for 300 dollars, however, the price has now reached 1000 dollars, the price is far higher than it actually worth and the asset price bubble make a lot of people not able to afford for it.

Sources:

http://www.apple.com/ca/pr/library/2013/09/23First-Weekend-iPhone-Sales-Top-Nine-Million-Sets-New-Record.html

http://en.wikipedia.org/wiki/Economic_bubble

http://www.zdnet.com/gold-iphone-5s-the-only-spark-among-chinese-consumers-7000020980/