French luxury group Hermes has posted record sales of 2.8 billion euros ($3.8 billion) in 2011, highlighting the resilience of luxury brands in the face of the weakening global economy.

The group’s sales were up 18.3 percent last year, beating the target of 15-16 percent growth, it said in a statement, and its operating margin was up more than 30 percent.

The famed maker of luxury bags and silk scarves said revenue growth had been led in non-Japan Asia, where sales were up 29 percent, and in the United States, where they were up 26 percent.

French luxury goods conglomerate LVMH – Louis Vuitton Moet Hennessy has paid US$200 million for a 10 per cent stake in Chinese fashion brand Ochirly.

The buyout gives L Capital, LVMH’s private equity arm, to hold a direct stake in the family-owned Ochirly which has total value of US$2 billion.

The investment gives L Capital an opportunity to break into China’s strong fashion industry while Ochirly gains recognition through having a global investor.

The growing power of the Chinese consumer might have the world in its thrall but it seems it won’t be too long before their lust for luxury is more satisfied a little closer to home.

Traditionally, Chinese shoppers have had to head overseas to pick up the latest fashions or other luxury items, due mainly to steep taxes on such items back home.

A recent survey by the World Luxury Association claimed that 72 percent of Chinese consumers believed that luxury goods were cheaper overseas than at home, while 69 percent of those polled traveled simply because they had a wider choice of goods available to them when they did.

Amazon’s members-only flash-sale site MyHabit is launching its first designer tab, with the likes of Thakoon, Valentino and Balmain going on offer at up to 60 percent.

Adding to its women’s, men’s, children’s and home categories, the site is teaming up with top fashion houses including Bibhu Mohapatra, Costume National and Alejandro Ingelmo for the high-end category.

Discounts will be in keeping with other MyHabit sales, with the sale to commence 12 PM EST Monday, February 6.

Global sales of duty-free products reached $46 billion in 2011, up a staggering 17.9 percent, calculated duty free analyst Generation Research.

Although the results are still preliminary and currency fluctuations may bring the growth figure down, 2011 may turn out to have been a record-breaking year.

Unsurprisingly, Asia Pacific was the star growth region, with sales rising 22.9 percent and buyers helping to fuel a resurgence in alcohol sales.

It’s meant to bring riches and power befitting an emperor, but if Western luxury brands have their way the Year of the Dragon will cost their wealthy Chinese customers a fortune instead.

Monday is the start of the Year of the Dragon, the most favourable and revered sign in the 12-year Chinese zodiac.

The dragon is a traditional Chinese symbol of royalty, fortune and power, and the Year of the Dragon usually sees a spike in marriages and births.