Home >

Will China'S Luxury Consumption Stop In The Field Of Wear?

2010/12/27 16:30:00 51

According to the latest data from Goldman Sachs, luxury consumption in mainland China amounted to 6 billion 500 million US dollars in 2010, the first growth rate in three consecutive years.

According to Goldman Sachs investment bank, the mainland population of China will increase from 40 million to 160 million in the next 5 years, and the population of the two or three tier cities is the main support for the luxury industry.

According to reports, in 2009, the mainland of China

Luxury goods

Total consumption exceeded the US for the first time, after Japan, becoming the world's second largest consumer of luxury goods.

Goldman Sachs predicts that in the next 3 years, the total consumption of luxury goods in mainland China is expected to surpass Japan and become the world's largest consumer of luxury goods.

Business aircraft as a luxury industry

Top products

At present, the Asia Pacific business aviation company, which occupies nearly 40% of the domestic jet market, has also hit the highest level in 2010.

Liang Xiankang, President of the company, said in an interview that in 2010, Chinese companies and individuals bought more than 20 private business aircraft, including Airbus and Boeing's modified private business aircraft.

Hu Run, founder of Hu Run's rich list, said more mainland Chinese entrepreneurs were still willing to spend money, luxury cars and overseas home buyers were their first choice. "Although the fluctuations of the property market and stock market and capital market in 2010 have a certain impact on the wealth of the rich, the overall shrinkage is not big."

For this 6 billion 500 million dollar pcript, Meng Pengjun, chief executive of Limited by Share Ltd, China's luxury goods (Asia) Limited by Share Ltd, which is known as "the godfather of luxury in China", has expressed his view. "Unlike the US, luxury goods in mainland China mostly stay in the field of wear, with watches, jewellery, fashion and so on. But in fact, sales and turnover in mainland China can not surpass the US at this stage."

Meng Pengjun said: "because many Chinese people think they are luxuries.

Goods

In the United States, it is not luxury at all, such as Mercedes Benz, BMW, Porsche and so on in the United States are not luxury goods, so the definition of luxury goods between Mainland China and the United States is essentially different.