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Contents
- Growth Among Chinese Luxury Customers Pushes Them Beyond Japanese, Americans To Become Top Consumers Of LVMH Brands
- In the wake of the global economic crisis, China has leapfrogged its developed-world counterparts in many high-end segments, driven mainly by the country's second-tier urban growth, which -- fueled mostly by commodity industries like coal which have not been as badly affected by the downturn -- continue to grow and attract foreign investment. Second- and third-tier cities, which have seen high-end foreign boutiques opening up only in the last few years, have been a boon to major foreign brands because customers in these smaller cities present virtually no signs of " luxury fatigue " and feel that expensive luxury brands are an excellent way of conveying their newly found status -- the flashier the better.
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