Sales of luxury goods in mainland China fell`1% to 115 billion yuan ($18.5 billion) in 2014 compared to a year earlier according to Bain & Company.
French luxury products group LVMH and Google have agreed to work together to fight the sale of counterfeit goods online.
A decade ago, French lovers of high-end fashion would not have dreamed of buying a pre-owned luxury fashion accessory.
China may start levying taxes on an increasing number of luxury goods as part of the country’s efforts to push forward economic reform.
Currently the web’s largest store, online retailer Amazon could be on course to become the latest destination to shop luxury fashion.
Chinese shoppers are increasingly buying luxury goods in mainland China, turning away from high-end stores abroad and in Hong Kong.
Chinese consumers will be the leading buyers of luxury goods brands by 2015, snapping up pricy items at home and abroad, according to the Boston Consulting Group.
French luxury brands launch a campaign with several European countries to fight back against the increasingly lucrative flood of counterfeit goods.
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
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
India’s luxury sales are expected to expand by a scorching 20 percent annually until 2015, as brand-smitten consumers snap up big names to flaunt their wealth. Luxury sales were slow to take off in India a decade ago, disappointing retailers who had rushed into what they hoped would be the next China — a vast … Continued
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
Fashion bloggers will help propel online sales of designer clothes, jewels and luxury cars to more than 11 billion euros ($15 billion) in 2015. The exclusive fashion world has embraced the Internet later than other industries but is catching up quickly. Brands such as Burberry, Tiffany and Gucci are increasing exposure to social media to … Continued
You don’t have to tell the people at Prada how valuable the Chinese market for luxury goods has become — the Italian fashion icon is so keen to set up a base out East that it is about to be listed on the Hong Kong stock exchange. In fact, such has been the rush by … Continued
As the buying power of China’s masses continues to spiral upwards, more and more information is being gathered focusing not only on what they like to spend their money on but how they go about spending it. This week it has been the turn of the international audit and advisory services firm KPMG to release … Continued
Global luxury sales should grow eight percent this year to 185 billion dollars (124 billion euros) but Japan‘s market will contract. The forecast was raised from an earlier estimate of growth of between three and five percent but would still be lower than last year’s result of 12-percent growth in the luxury market, as the … Continued
A rise in the spending power of China‘s younger consumers is apparently not helping them when it comes to picking up a little style at the same time. Mainland Chinese media have this week picked up on a report released by the Hong Kong Institute of Fashion Buying and given it a interesting spin, saying … Continued
Beijing has banned outdoor advertising that promotes high-end lifestyles as the government seeks to ease public concerns about the country’s widening wealth gap. Businesses Have been given an April 15 deadline to rectify such ads, along with any that excessively promote “foreign” things. It gave no details on which “foreign” things were deemed objectionable. Such … Continued
The amount we spent on duty-free increased 13 percent last year with much of the growth coming from increased consumption of luxury products. The global duty-free and travel retail market was up by $4.5 billion, reaching a whopping $39 billion in 2010. The increase was particularly marked in luxury goods, suggested Generation Research, which saw … Continued
China’s luxury spending may more than double by 2015, surpassing Japan to become the world’s largest market for branded goods, according to McKinsey & Co. Sales of luxury items in China, including clothes, handbags, watches and fine jewelry, are expected to increase to about 180 billion yuan in 2015. The 2015 estimate would be equivalent … Continued