China starts to look for luxury closer to home

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 … Continued

Luxury watch superstore to target Chinese in Paris

Luxury Swiss retail giant Richemont, owner of such brands as Cartier, Piaget and Jaeger-LeCoultre, is to open the world’s largest shop for luxury watches in Paris. Business Montres quoted an internal memo saying a three-storey 2,200 square metre (24,000 square foot) shop would open early 2013. The shop would take over the premises of the … Continued

Top online resources for China’s luxury shoppers

Mainland luxury Chinese consumers are becoming increasingly open to shopping for, and finding information about, luxury brands online with news portals. Weibo is one of the most popular sources for information, according to the results of a survey released November 28 by PR group Ruder Finn Asia. The survey was conducted among 1057 Mainland Chinese … Continued

Chinese demand fuels Swiss watch success

The Swiss watch industry is in rude health with exports leaping once again last month and watchmakers set to notch up a record year thanks to Chinese consumers Despite the the effect of the global debt crisis, the demand for Swiss watches hit a peak in October, putting smiles on the faces of the country’s … Continued

Luxury goods sales set for 10% growth: study

The luxury sector is set to post double-digit growth this year to 191 billion euros driven by the appetite of Chinese consumers for top-quality goods, according to a study by Bain & Company released on Monday. While “the global economic situation is difficult” the luxury sector “is in good health and is growing above all … Continued