The Orion Suitcase is designed by Gabriele Pezzlini and made of aluminum reinforced with carbon and Kevlar. The interior is lined in a fine, natural cowhide.

China’s ever increasing economic clout has again been reflected in a survey on consumer tastes in luxury goods which has shown the nation not only knows what goods it wants, it most certainly now has the means by which to buy them.

A report released this week by Bain & Company has claimed China is now the fastest-growing consumer of leather goods and jewelry worldwide.

Its overall luxury market has grown 23 per cent this year, meaning it’s on target to reap some 84.3 billion yuan (9.2 billion euro).

But what the world really wants to know is what are the Chinese after. According to this report, Louis Vuitton, Chanel and Gucci are the most lusted-for brands.

Hermes rejected on Wednesday “an attack” on its capital by luxury goods giant LVMH, sounding the start of what could become a bitter battle for control of one of France’s most iconic brands.

The head of LVMH, Bernard Arnault announced he had bought 17 percent of his rival Hermes, insisting that this does not herald a hostile takeover but that he simply wanted to become a “friendly” long-term shareholder.

“If you want to be friendly, Mr Arnault, you should withdraw,” retorted Hermes executives Bertrand Puech and Patrick Thomas.

Luxury conglomerate LVMH said Saturday it had taken a 14.2 percent stake in Hermes but denied it wanted to take over the French luxury goods firm.

The company controlled by French businessman Bernard Arnault said it wanted to boost the stake to 17.1 percent at a total cost of 1.45 billion euros (two billion dollars) but was not seeking even representation on the Hermes board.

The move makes LVMH the largest Hermes shareholder after the heirs to the family share of around 70 percent.

There has been speculation about the future of Hermes, known for its fine leather goods and silk scarves, since the death of its charismatic head Jean-Louis Dumas.

Hermes has opened its first boutique for its new brand Shang Xia — a bold strategy that highlights China’s growing importance to luxury goods companies.

“We are very moved — this is like the birth of a child,” Hermes chief executive Patrick Thomas said ahead of the inauguration of the shop in Shanghai.

The store, a picture of minimalist chic, offers clothing, home furnishings, shoes and tableware — a collection inspired by tea, and made from traditional Asian materials such as bamboo, cashmere and porcelain.

For a few seasons Hermes had been playing with fairy-tale plots and characters while creating ad campaigns.

And for their Fall 2010 ad campaign, Hermès have decided to teach us some new ways to wear — or rather, to use — our scarves.

With the help of Constance Jablonski and Jonas Mason, we now know we can use scarves and ties as Zorro-esque capes, masks, and as escape/entrance methods.