Luxury consumer products are really doing very well in China, says Shaun Rein to Reuters.
Chinese consumers are buying an estimated $7.5 billion per year of luxury products and the market is growing 15 percent annually, said Shaun Rein, managing director of China Market Research Group, based in Shanghai.
And no Chinese city has indulged in as much luxury as Shanghai, its financial capital, which promises glitz and glamour as it gears up for World Expo 2010 next month….
“Luxury is really big in China, only not everyone is going to be a winner. Certain brands are getting all the sales,” Rein said, noting a love of Louis Vuitton and Gucci.
Shaun Rein is also a speaker at the China Speakers Bureau. Do you need him at your conference? Do get in touch.
Shaun Rein also contributed to our recently released book A Changing China. You can order the book online or ask for a review copy in pdf-format.