Demand for Luxury Goods Most Prosperous in Asia-Pacific Region
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The pockets of tycoons in Europe and America shrinked a little due to the financial crisis when the rich people in Asia-Pacific region especially in China still keep their habits of consuming luxuries. According to several international luxury brands’ sales volume reports in the third quarter, we can know that the consumption in Asia-Pacific region still grows fast. The famous Bain & Co. consulting firm predicted recently that the luxury market in mainland China would increase from 8.6 billion dollars to 9.6 billion dollars.
The latest data from LVMH shows that the sales volume of this company in the third quarter this year has dropped from last year’s 4.16 billion Euros (about 48.497 billion Hong Kong dollars) to 4.14 billion dollars (about 48.264 billion Hong Kong dollars). However, LVHM said that the needs of LV handbags in the Chinese markets were big, which boosted an increasing benefit of 5.3% of the company’s fashion and fur products. Jean-Jacques Guiony, CFO of the group told reporters of BuyReplicaLuxury.com that LV had extraordinary performance in the Chinese market.
News from replicaestore.com.
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