Home breadcru News breadcru Textile Market Trends breadcru Luxury-products lure loads of locals

Luxury-products lure loads of locals

31 May '07
1 min read

In 2006, domestic consumption of luxury-products reached around US $2 billion, with a growth rate of 20 percent, which is the most in world.

According to 2005 investigation, China accounted for 12 percent of the global luxury-product markets, Japan stood at 41 percent, America was at 17 percent and Europe had the 16 percent share.

Experts said, by 2011, China will become the top luxury-products consumption country in the world. Luxury-goods sale is expected to reach $11.5 billion by 2015.

Focus will still be of fashion clothing, watch and other high-end comfort accessories, which will be regarded as sign of elite social status. Chief markets will be found among the 20-40 years age groups.

Fibre2fashion, News Desk - China

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!