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Chinese consumption drives global luxury sales
11 Sep '12
1 min read
The consumption by Chinese people is now driving global sales of luxury items, including luxury apparels.
The purchase of luxury goods by Chinese citizens in domestic and overseas markets now account for 25 percent of the overall sales revenue earned by luxury industry, compared to only 10 percent share around three years ago.
The demand for luxury products is rising among Chinese consumers, but they buy over fifty percent of their goods from foreign countries.
Hence, there is a pressure on luxury brand companies to expand to China.
Fibre2fashion News Desk - China
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