“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”