Posted on Aug 20, 2008

The five-day event, taking place from 26 to 30 August 2008 at the Four Seasons Hotel in Hong Kong, will sit alongside other high profile events supporting Hong Kong’s positioning as a fashionable city and a preferred shopping destination for luxury goods in Asia/Pacific.

A-list international fashion designers will be bringing their latest Fall Winter collections to the supremely stylish and fashion forward from Hong Kong and the region.

“MasterCard Luxury Week Hong Kong is a key event in support of our fashion and fashionable lifestyles platform globally,” said Natalie Lockwood, group head, Global Marketing, Asia/Pacific, Middle East & Africa, MasterCard Worldwide. “We are looking forward to seeing a wide a range of designers on the runway, showing everything from couture gowns to designer street wear. And to compliment this we are pleased to be offering MasterCard promotions designed to assist the cardholder in accessing a little luxury too.”

As presenter of MasterCard Luxury Week Hong Kong, MasterCard provides its premium cardholders from around the region exclusive access to the shows, Priceless experiences as well as the opportunity to enjoy exclusive privileges with a wide array of luxury brands in Hong Kong. It also strengthens its outreach to customer financial institutions, merchants and the luxury industry present at this powerful event by providing them with valuable consumer market insights. 

“With the demand for luxury goods and services in Asia/Pacific estimated to grow an average of 12% per year between 2006 and 2016 , businesses need to understand the needs of these consumers and their distinctively different demand characteristics in order to succeed.

“In Hong Kong alone, the discretionary spend of the affluent is set to grow more than 73% to US$17 billion in 2015 and their spend on luxury goods and fashionable experiences is a key part of their expenditure,” said Lockwood.

“Likewise, China is another market whose affluent consumers are expected to be the world’s largest luxury goods consumers in the next decade. According to MasterCard research, in 2006 alone, spending on luxury goods in China was up by 50%. This clearly shows that domestically, the new wealth in mainland China’s major cities is powering spending, lifestyle choices and mindset changes among affluent consumers.”

Exclusive MasterCard cardholder privilege promotions have commenced and are valid until the end of the year. Offers including discounts in Hong Kong for spa and beauty treatments, hotels and dining, or shopping discounts at top name fashion houses such as Kenzo, Roberto Cavalli and Sonia Rykiel.

Further discounts are also extended to cardholders in Shanghai, Beijing and around the region with further privilege promotions on hotels, travel and lifestyle, retail and dining outlets.

About MasterCard and Fashion

MasterCard Worldwide is building a strong fashion platform globally, providing relevant means to enhance its customers’ premium portfolios and strategy through a spectrum of privileges that help cardholders celebrate and enjoy fashion. This is an extension of its retail leadership and is supported by its vast knowledge and rich insights into consumers.
MasterCard is presenter and sponsor of some of the foremost premium global fashion events, including the Singapore Fashion Festival, Rosemount Australian Fashion Week, MasterCard Luxury Week Hong Kong and 30 Days of Fashion Presented by MasterCard in New York.

Across Asia/Pacific, MasterCard also has a strong and recognized affiliation with retail, being the official card of the Great Singapore Sale, Malaysian Mega Sale and Taipei Great Sale.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com.

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Contacts:
Shivani Malik, Weber Shandwick, , (65) 6825 8054
Eugenia Koh, Weber Shandwick, , (65) 6825-8029
Graeme Lewesey, IMG Fashion, , (61) 3 08641160

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