High-end merchants unfazed by cutbacks

PUBLISHED : Saturday, 17 January, 2009, 12:00am
UPDATED : Saturday, 17 January, 2009, 12:00am

Despite news that mainland consumers are planning to cut back on non-essential purchases during the global financial crisis, merchants selling the high-end brands do not appear worried about future sales.

China Luxury Mart 2009 executives who were interviewed this week in Shanghai were relatively upbeat about the coming year and predicted top-end spending would be able to see them through the tough times.

Alan Way Yi, for Remy Martin's Louis XIII cognac, expected the mainland to remain a growth market for luxury goods despite the global situation.