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How New York’s luxury stores lure rich Chinese

Though luxury brands started opening stores in Beijing and Shanghai years ago, Chinese shoppers still spend more on luxury products abroad than they do at home, according to consulting firm Frost & Sullivan. Price is the major reason: Because of China’s taxes, luxury products are about a third cheaper in the United States and elsewhere.

European luxury stores have been catering to Chinese tourists for years. Now high-end retailers in the US are pulling out their Putonghua phrase books and trying to convince Chinese visitors that Americans can do luxury, too.

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