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

Jimmy Choo plans huge China expansion

Jimmy Choo founder Tamara Mellon hopes to open up to 50 stores in China over the next five years in what she dubbed an “exciting” market for high-end goods. China is the world’s fastest-growing market for luxury products and an ongoing economic boom is creating new billionaires every year in a huge explosion in wealth. … Continued

Shanghai’s young high rollers splurge on luxury

Thousands of rich Shanghai residents have turned China’s most cosmopolitan city into the luxury capital of a country that is expected to become the world’s largest market for the sector between 2012 and 2015. Shanghai topped China’s luxury market in 2010-11 with 18% of overall sales, ahead of Beijing’s 16% and the eastern city of … Continued