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The Annual Luxury Sales Of China Will Exceed 5 Billion Dollars
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According to a report from Goldman Sachs, despite the shrinkage of the global luxury market in 2009, it is predicted that Chinese luxury sales will unprecedentedly exceed 5 billion dollars which surpasses the sales of 3 billion dollars in 2008, such increase marks it the first of the world.
Meng Peng, the CEO of Luxury (Asia) Co., Ltd. and Acting CEO of Luxury Asian Network, said that the financial crisis has little impact on the Jet market in the past year. As a supplier who provides fast, convenient and comfortable air traffic, Luxury Asian Network has achieved great success and sold six civil aircrafts in China. He revealed that, luxury Asia would usher in the first number of venture capital.
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Shenzhen, the most luxurious frontier city in China
Gucci’s largest flagship store in Asia Pacific Region opened in March while LV opened its largest flagship store in Asia Pacific Region in June in Luohu District as well. Meng Peng thought that Gucci and were the top luxury brands of the world which can be regarded as benchmarks of the fashion circle. Their noble quality, selected location and luxurious store-front are representing not only a brand, but rather a sign of global fashion culture. To some extent, people regard them as standard of whether a city has fashion temperament or not. At the same time, Meng Peng said, “Gucci and Louis Vuitton choose to open their flagship stores in Shenzhen instead of Shanghai, it is because Shenzhen is the most luxurious frontier city of China which leads luxury trend as well as provides information about luxury goods.”
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Shanghai, the city loves luxury the most in China
In Shanghai’s luxury shopping zone Nanjing West Road, there are more than forty offices of the world’s top 500 companies. Mainlanders, people from Hong Kong and foreigners together from the top consumption group of Shanghai. Besides, world famous brands like Cartier jewelries, Patek Philippe watches and Zegna suits share the NO. 18 of Shanghai Bund.
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