Luxury goods still sought in China

China Daily (Canada) - - FRONT PAGE -

The Chi­nese are not out of love with luxury goods such as Chanel, Her­mes and Prada.

The 2014 China Luxury Re­port, from the Shang­hai-based re­search cen­ter For­tune Char­ac­ter In­sti­tute, says to­tal over­seas luxury pur­chases by Chi­nese con­sumers rose 9 per­cent to $81 bil­lion and that luxury pur­chases in the do­mes­tic mar­ket fell 11 per­cent to $25 bil­lion.

A re­port from the con­sul­tancy Bain & Com­pany says 55 per­cent of Chi­nese luxury goods spend­ing was made by con­sumers dur­ing over­seas trips and that an­other 15 per­cent was made through friends, rel­a­tives or pro­fes­sional agents known as daigou.

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