Home / Knowledge / News / Apparel/Garments / Luxury goods priced higher in China than Europe
Luxury goods priced higher in China than Europe
21
Feb '13
Luxury goods are priced 30-50 percent higher in China compared to the prices in European countries, according to an analysis.
 
For example, the retail price of a handbag from a leading luxury house is 6,100 yuan (about US$ 964) in China, but the same bag is sold in Europe for €500 (about US$ 619), i.e. the difference of about 36 percent.
 
The huge difference in prices in Chinese domestic market and abroad is the main reason for the Chinese consumers’ preferring to buy luxury goods in overseas markets.
 
Moreover, discounts are rarely offered on luxury goods in China, whereas the phenomenon is more common in European markets.
 
For example, global luxury brands like Louis Vuitton and Gucci offer discounts ranging from 5-7 percent during every major festival in France. Promotional offers can also be seen after the season is over in overseas markets.
 
A research conducted on Chinese luxury goods market by Bain & Company concluded that Chinese consumers bought about US$ 50 billion worth of luxury goods from overseas markets in 2010, which was nearly five times the consumption of luxury goods in China.
 

Fibre2fashion News Desk - China


Must ReadView All

Apparel/Garments | On 26th May 2016

PM expects Parliament to pass GST bill this year

Prime Minister Narendra Modi expects Parliament to pass the...

Apparel/Garments | On 26th May 2016

Bangladesh garment exports up 10% in July-April

Continuing the steady growth witnessed over the past few months,...

Textiles | On 26th May 2016

Spun yarn production growth in FY16 slowest in 4 years

India’s cotton yarn production grew by 2 per cent to 4,136 million kg ...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

How is the man-made fibre (MMF) industry shaping up? How is Mangalam...

Dharmendra Shah
Ozone PB Spintex Limited

How has the Indian spinning industry fared in the last two years? What...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

What is the influence of foreign trends and designs on Indian fashion?

Urs Stalder
Sanitized AG

<b><i>Urs Stalder, CEO, Sanitized AG, talks about the increasing use of...

Johan Berlin
InvestKonsult Sweden AB

<i><b>Investkonsult Sweden AB has been buying and selling second-hand...

Mark Paterson
Technical Absorbents Ltd

<b><i>Mark Paterson, R&D manager of Technical Absorbents Ltd talks about...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

"There are a lot of people wearing western clothes in India as well. But...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search