App keeps consumers in the know

Since its November launch of a social media app that provides Chinese consumers a means of collecting and sharing posts about fashion and lifestyle from abroad, the luxury retail - focused digital platform Bomoda has seen a rapid jump in users and now boasts 250,000 in 98 countries.

The social media app joins an already thriving newsletter, in which Bomoda presents tailored luxury and lifestyle trends to Chinese consumers shopping overseas in cities including New York, London and Paris.

China now comprises 30 percent of global market share in the luxury industry, with Chinese shoppers skewing younger on average than their Western peers. For many of them, luxury brands are still a relatively new arena, says Brian Buchwald, a former NBC executive who launched Bomoda in 2012 with co-founder Suki Sun, former executive editor-in-chief at TimeOut Shanghai Magazine.