Retail in Asia

In Markets

China’s luxury market shifts upscale

China has soared in importance for the luxury sector in recent years to account for a quarter of the sector’s global revenue, according to a report by HSBC. But signs have emerged that the appetite for luxury goods in China is slowing. Meanwhile, the market’s fastest growth is shifting to the ultrahigh-end of the market from luxury companies with mass appeal.

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(Source: The Wall Street Journal Online)