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  1. Mainland to be world's top luxury market by 2015

    Posted Mar 09th 2011, 12:00am by Minnie Chan

    ... according to a new McKinsey report on China's luxury goods consumption. The survey found that 45 per cent of luxury consumers on the mainland were aged between 18 and 34, compared with 37 per ... are still saving for buying houses... but they still have passion for luxury goods,' Yuval Atsmon, a partner in McKinsey's Shanghai office, said yesterday. 'They are different from ...

  2. China on track to be No 6 in global wine consumption

    Posted Mar 04th 2011, 12:00am by Staff Reporter

    ... cent in the previous five years. China's rising affluence has changed the global consumer market as middle-class mainlanders splash out on luxury goods and expensive food and beverages. Brokerage CLSA said in a report that demand for luxury goods and travel from Greater China would account for 44 per cent of global sales by 2020, up from the current 15 per cent. China is set ...

  3. Mainland luxury market on pace for 30pc growth

    Posted Dec 16th 2011, 12:00am

    ... Daniel Ren in Shanghai ren.wei@scmp.com The mainland's luxury goods market is expected to grow by 30 per cent this year as young consumers snap up coveted watches and leather hand ... by the global consultancy Bain & Company. Sales of luxury goods on the mainland could hit 113 billion yuan (HK$137 billion) this year, up from 87 billion yuan last year, mainly driven by new ...

  4. Publisher guides mainlanders on luxury with Chinese characteristics

    Posted Apr 03rd 2011, 12:00am

    ... In the global luxury industry, China 'is the hero of the moment' while most developed countries are struggling against the economic slowdown. With sales of luxury goods on the mainland expected to exceed US$15 billion in the next five years, China will become the world's largest luxury market. In the latest wealth boom, luxury magazines have become popular ...

  5. Last frontier of luxury retail: small-town India

    Posted Oct 25th 2011, 12:00am

    ... and to try to build lasting consumer loyalty. The consultancy estimates that the global luxury goods market will be worth from US$25 billion to US$30 billion in 2015, of which US$10 billion ... they happily advertise in Putonghua. However, it does seem that Indians and Chinese are rushing to the purveyors of luxury goods for similar reasons, according to my friends in the business. Just ...

  6. Brand thinks small to go big in China

    Posted Dec 12th 2011, 12:00am

    ... to target more sophisticated clientele in the fast-growing luxury goods market. The New York-based luxury brand, which is owned by namesake Canadian mining and retail company Harry Winston Diamond, ... for mass luxury at all,' Harry Winston chief executive Frederic de Narp said, referring to the legendary lost city of gold that has long fascinated explorers. 'We see it as the most ...

  7. Hainan Island luxury shops open to mainlanders

    Posted Apr 20th 2011, 12:00am

    ... But the island is not likely to challenge Hong Kong as the prime destination for mainlanders shopping for luxury goods, say industry experts. A 7,000 square metre duty-free shop in Sanya city in southern ... to challenge the SAR's position as one of the most popular shopping destinations for mainlanders in the next three to five years. But luxury goods sales on the island will grow rapidly, since ...

  8. All good things come to an end

    Posted Jul 05th 2011, 12:00am

    ... Sometimes it is useful to be reminded that the good times do not always last forever. The central government's announcement that it plans to cut the import tax on luxury goods ... that nothing should ever be taken for granted when it comes to our economy. China is the world's second biggest market for luxury goods and it is tipped to overtake Japan to gain the top position ...

  9. Sorry, we're full. Luxury brands find China taken

    Posted Jun 13th 2011, 12:00am

    ... Celine Sun With China, the fastest-growing market for luxury products in the world, the first challenge faced by international brands in the mainland market is where to locate ... luxury retailers are cautious about opening up in smaller, so-called second-tier cities, where spending power and property management are often weaker. Ada Nip, the head of retail at property ...

  10. The heels are alive

    Posted Jun 13th 2011, 12:00am

    ... offering. A report by the brokerage CLSA predicts that luxury goods are set to be the fastest growing consumer category in China in the next five years, with sales expanding at a compound annual ... represent 10 per cent of the global market. This figure rises to 15 per cent when luxury good purchases made by Chinese tourists abroad are included. Catherine Yeung, an investment director ...




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