Luxury brands need to look beyond the obvious locations as China’s wealthy population grows and develops inland too
Luxury brands need to look beyond the obvious locations as China’s wealthy population grows and develops inland too
So far luxury brands have tended to locate themselves in China’s four wealthiest coastal cities, but much of the 25% growth in luxury spending which is expected will happen in a more westerly direction. Many of the country’s growing number of billionaires (currently there are around 80) are also in these locations. The Chinese spend 9 billion per year on luxury goods, so this is a market well worth thinking carefully about.
