Chinese Luxury Goods Market Explodes

The Chinese luxury market appears to be enjoying stratospheric growth of 20%-30% according to the World Luxury Association’s – China Luxury Dressing Market Report, 2008 .

Now officially classified as the fastest growing luxury market – China appears to be sustaining increased demand for private planes, yachts, perfume, jewelry and fashion to the tune of $8 billion (£4 billion approx) a year. This comprises a staggering 18% of total global demand for such luxury consumables.

According to Chinese customs figures it also appears that designer brands hold a particular cachet – with Gucci, Versace, Fendi and Prada holding most appeal. What about Dolce and Gabbana?