It seems the Chinese can’t get enough of luxury fashion items. China now has the second luxury market in the world, behind the United States, but the sector is growing by 15% each year.
Not even high luxury taxes and increased prices due to piracy can stem the increasing demand. Shoppers are spending up big in Shanghai, although smaller cities like Shenyang and Harbin also have a taste for high-end designer goods. While the towns have malls filled with designer boutiques, most Chinese prefer to have the goods brought to them. And with many customers spending as much as $129, 000 at once, it’s not hard to see why the stores are happy to oblige!
But not all brands are created equal. Louis Vuitton, Gucci, Calvin Klein, and Cartier are amongst the most popular in China.
[Image Source: Laure Wayaffe/Flickr]
