Angelica Cheung: Chinese Customers Will “Expect to See Something Different” When They Travel Again

The Business of Fashion Podcast

The Business of Fashion

Fashion & Beauty, Business, Arts

4.6 • 770 Ratings

🗓️ 22 October 2021

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

“We’ve been expecting you…”

In Paris, everything is prepared for the return of big-spending tourists. Stores are open, mirrors shined, brand leaders bullish that the global capital city of luxury remains irresistible.

But when BoF founder and CEO, Imran Amed connects to Angelica Cheung in Beijing, she sounds a caution.

For 16 years, Angelica was Vogue China’s Editor-in-Chief. Today, she’s a venture partner at investment leader, Sequoia Capital China. She tells Imran that Chinese customers used to travel to Paris for choice — which they can now find at home; for price — yet prices are now balanced around the world; for “Made in France” — yet they’re increasingly proud of “Made in China”.

Her insights on what it’s going to take to lure the Chinese back to the City of Light are featured in the second episode of The BoF Show, now streaming on Bloomberg QuickTake.

Here, we share the full interview with Cheung exclusively on The BoF Podcast.

Watch the second episode of The BoF Show, “Re-Invention: How Fashion’s Megabrands Will Adapt to Post-Pandemic Customer Behaviour”

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Transcript

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0:00.0	Hi, this is Imran Ahmed, founder and CEO of the Business of Fashion.
0:05.4	Welcome to the BOF podcast. It's Friday, October 22nd.
0:09.6	Last week, we released the second episode of the BOF show, a new immersive video series
0:15.4	now streaming on Bloomberg QuickTake. In episode two, I explore the shifting mindsets and
0:20.5	behaviors of luxury customers amid the pandemic. For 16 two, I explore the shifting mindsets and behaviors of luxury customers
0:22.2	amid the pandemic. For 16 years, Angelica Chung was editor-in-chief of Vogue China. Now she's a venture
0:29.0	partner at Sequoia Capital China, and today we're delighted to release the full cut of my
0:34.0	interview with Angelica from episode two to get her insights on what it's going to
0:38.9	take to lure the Chinese back to the city of light. To watch the full episode, please find the
0:44.2	link in our episode notes. Now, here's the full interview with Angelica Chung exclusively on the
0:50.3	B.OF podcast. Hi, Angelica. I am Ran. Good to see you again. I know. We've managed to keep in touch
0:57.5	quite a lot over the last 12 months, but only virtually because you've been in China the whole time.
1:04.2	Well, yes, you know, it's unbelievable, what, a year and a half almost in China. And think about all these gatherings we used to have,
1:14.3	too much, probably. But now it's good to see you on camera. Yeah, exactly. How has the last year
1:22.2	so been for you, Angelica, you know, personally and professionally? Well, I think that it turned out to be quite important, you know, when you were in the middle of it, you know, personally and professionally? Well, I think that it turned out to be quite important.
1:29.8	You know, when you were in the middle of it, in the beginning, you were thinking, oh, what was
1:33.7	happening? And now, what, 18 months, 16 months after, you just thought probably there was
1:40.7	quite a lot of, you know, positive elements to this unfortunate period, you know.
1:47.2	I guess one thing is that because we stopped traveling, we had a lot of time to think,
1:53.7	and we probably see, we were seeing things more clearly. And for me, the biggest change was after a lot of soul searching and
2:03.3	thinking, and I decided to change my career, to move on to something different. And I think
2:10.8	probably that was the biggest change for me last year. Yeah, I mean, that's a super significant
	...

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