China had an estimated USD15 billion in luxury sales for 2010, and, according to a McKinsey & Co. survey, women accounted for more than half of luxury purchases – an increase from McKinsey’s 2008 survey, which said women accounted for only 45 percent of Chinese luxury sales. Not only are national figures increasing, but so are individual expenditures: the average female luxury consumer in China increased spending by 22 percent between 2008 and 2010; the average male luxury consumer only increased spending 10 percent.
The trend toward female success is not limited to faceless survey results: China is home to eleven of the world’s 20 richest self-made women, as well as 153 female yuan billionaires (in US currency, around USD150 million).
The trend toward female financial empowerment has encouraged female-oriented brands – including Burberry, Chloe, and Givenchy – to invest even more in the Chinese market.
(Source: red luxury )