Chinese consumers are helping to boost the Swiss watch industry, with exports worth 19.3 billion Swiss francs (US$21.1 billion) last year, an industry report shows …
Tag: World Luxury Association
Observers predict that China will soon be biggest in the world for high-end designer consumer goods. Chinese people will buy more than half their acquisition of luxury goods on the mainland in 2014 rather than overseas, as is the case now, business research and consulting firm Frost & Sullivan said in its latest survey […]
Chinese consumers spent about US$7.2 billion on luxury goods overseas during the week-long Spring Festival holiday, a 28.6 percent jump year-on-year, according to a survey […]
Second-hand luxury goods stores are becoming popular in China as suppliers of new products increase prices and demand for high-end items continues to rise […]
Prominent luxury brands are scrambling to get a slice of the competitive Chinese market. The 2011 Tianjin International Luxury Exhibition was held recently, right after the World Luxury Association WLA released its 2011 annual official report recently in Beijing […]
If you think China is still a developing country, this piece of news is going to surprise you. China has overtaken the US to become the world’s second largest luxury market […]
China’s luxury market maintains a growth rate of 20%-30% annually, ranking first in the world. World Luxury Association said that China’s luxury consumption in 2007 (jewelry, dress, leather goods, perfume, excluding private plane and yacht) reached US$8 billion, taking up 18% of the global total. In the luxury market, dress takes up 32% of the total value, perfume and cosmetics 23%, watch and jewelry 20%, ornaments and accessories 19%, home 3% and dinning table decorations 3%…