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Luxury-products lure loads of locals
31 May '07
1 min read
In 2006, domestic consumption of luxury-products reached around US $2 billion, with a growth rate of 20 percent, which is the most in world.
According to 2005 investigation, China accounted for 12 percent of the global luxury-product markets, Japan stood at 41 percent, America was at 17 percent and Europe had the 16 percent share.
Experts said, by 2011, China will become the top luxury-products consumption country in the world. Luxury-goods sale is expected to reach $11.5 billion by 2015.
Focus will still be of fashion clothing, watch and other high-end comfort accessories, which will be regarded as sign of elite social status. Chief markets will be found among the 20-40 years age groups.
According to 2005 investigation, China accounted for 12 percent of the global luxury-product markets, Japan stood at 41 percent, America was at 17 percent and Europe had the 16 percent share.
Experts said, by 2011, China will become the top luxury-products consumption country in the world. Luxury-goods sale is expected to reach $11.5 billion by 2015.
Focus will still be of fashion clothing, watch and other high-end comfort accessories, which will be regarded as sign of elite social status. Chief markets will be found among the 20-40 years age groups.
Fibre2fashion, News Desk - China
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