despite the bleak situation on Wall Street
Friday, March 25th, 2011Last November, despite the bleak situation on Wall Street, but according to French luxury goods group LVMH’s 2008 annual report, the group sales in the third quarter of last year still achieved double-digit growth, and in the flagship brand Louis Vuitton ( LV) under the leadership of the Group’s China business is a When the global wine and spirits buyers to buy expensive bottles of wine, shot when there has been convergence birkin bag hermes, but the LVMH Group’s report showed sales of Hennessy Cognac high in China,hermes bags, the largest market for premium wines.
The first is the super rich. With more than 10 million U.S. dollars annual income level, China’s super-rich has not been a serious impact on the financial crisis.
LV news broke in July, the company will be in China’s 29 franchise stores reduce the prices of products 2-7%, and claimed that this is not a special promotion, but for the adjustment of the RMB exchange rate against the euro as a measure . July 17,hermes, the company set up in Shenzhen, the fourth flagship store officially opened later this year hermes scarves , the company also announced plans to open franchise stores in Inner Mongolia.
According to the World Luxury Association data show that Chinese consumers in high-end bags each year, cars, clothing, accessories and cosmetics, luxury goods spend 60 billion USD, and more recently to catch up when the Shang Daguo Japan, became the only inferior to the United States second largest consumer of luxury goods.
McKinsey survey, the majority of China’s rich are young, 80% in the 45 years of age, while the United States and Japan were 30% and 19%. In addition, the Chinese people pay more attention to the practical value of luxury goods hermes handbag, not likely to spend money very practical items.