There’s currently no country in the world that can match China’s thirst for luxury goods. Last year, mainland Chinese consumers were responsible for 35 per cent of all sales in the market, according to Ruder Finn and Consumer Search Group’s ‘China Luxury Forecast 2020’. Luxury consumption in the country grew by 26 per cent (compared to a 6.1 per cent national GDP growth rate). Clothing and watches top the wish list, led by international brand names such as Chanel and Rolex.
This story is from the August 2020 edition of The CEO Magazine Asia.
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This story is from the August 2020 edition of The CEO Magazine Asia.
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