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Why luxury brands succeed where bank brands fail
Effective brand strategies are critical to success, increasingly so in China. Scorpio Partnership highlights five steps that wealth managers use to create a positive impression.
The Chinese are fast becoming more affluent. In a report by China Merchants Bank and consulting group Bain & Co, research confirms that the world’s most populous nation now has 500,000 high-net-worth individuals with at least Rmb10 million ($1.5 million) in investable assets.
This swell of wealth means the Chinese are becoming even more brand-conscious. Take, for example, the surge in demand for luxury cars. In the first quarter, Mercedes Benz saw its sales jump 112% year-on-…
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