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.

Aston Martin, has announced that it will debut its China-focused “Dragon88″ line at the upcoming Beijing Auto Show, to celebrate the Year of the Dragon.

Available only for the Chinese market, 88 special “Dragon88″ models of the V8 Vantage S, Virage, and DBS will be made featuring some Chinese cultural references and iconography.

Luxury brand Montblanc, is opening one of the worldʼs most innovative concept stores, with the launch of its four-storey interactive Boutique in Sanlitun, Beijing.

This is the largest Montblanc Boutique anywhere in the world and by far the brandʼs most audacious, creative and technologically interactive concept store yet.

Visitors are invited to take an audio-operated guided tour through the experience upon arrival, which is delivered via a handheld electronic device.

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.

Gift-giving has long been an integral part of life in mainland China and now a new survey has lifted the lid on just what it is the country’s rich have been handing out.

The “Top 10 Gifts for the Chinese Luxury Consumer 2012″ was compiled by Hurun Report and looked at what China’s wealthy liked to give to their friends.

The timing of the report is perfect, too, as the Chinese New Year period is traditionally the time when gifts are given to friends, family and business associates.