"One third of luxury in the next 10 years will flock to China, India and Russia." LVMH main Xibeierna Arnault said. Salvatore Ferragamo CEO Michele Norsa also said that China is a huge potential for Burberry products. A report from consulting firm Bain expects the next five years, China's luxury market will reach 20 to 35% annual growth rate.
World Luxury Association estimated that by 2014, China will become the world's largest luxury goods market, reaching 14.6 billion U.S. dollars. But luxury goods companies should not see the growth of Chinese consumers as a matter of course, this is New York consulting firm Pao Principle in the recent warnings.
"Our luxury consumers are young, they used to buy luxury goods from the madness begin to mature and stable state, they began to choose the discount Burberry outlet bags better product, the purpose has gradually changed from the need to show off." This is a perennial services of a luxury public relations firm owner's explanation.
"A lot of luxury brands to China as the final market, some of them long-term business plan, and some are holding an intention to make a yes, and the first line from the mature market to second and third line rolls." One industry said.
Currently 10 people who buy luxury burberry products, in fact, there 5 are impossible to say, just follow the trend and find identity through the logo, which is a necessary stage of development, China is now the busy state, demonstrate that this is a crazy enough mature market. "
