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Chinese consumers will buy about $15.6 billion USD of luxury products this coming year, 20% growth from recently. In spite of this, there'll become more losers than winners, and Chinese will still be gravitating to your same brands, so investors have to be careful who they back. Nevertheless the exciting part is that there's an emergence of the very most top quality consumer these are buying watches from Van Cleef Arpels and handbags from Bottega Venneta..
All the while luxury goods consumption has fallen worldwide, China appetite for highend retail indicates a robust momentum. Italian men brand Ermenegildo Zegna continues to see a strong flow of the latest customers over the doors of that 60 stores in China. Than I expected, says Ken Kress, head of Zegna China operations.
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