Luxury Products in Demand

7 03 2011

The sales of luxury products (i.e. Fendi, Dior, Louis Vuitton, Marc Jacobs, etc) increased dramatically in 2010. It surged 17% to 20.3 billion euros (28 billion US Dollars). The change in the buyers’ income and number of buyers caused LVMH’s (LVMH Moët Hennessy • Louis Vuitton S.A.) net income to soar. Most of the increased sales came from China due to the Chinese economic situation. Chinese shoppers have more money than ever before and more rich people have more interests in buying high-end products. Luxury goods can be only bought in brands’ exclusive boutiques, which also makes the products more attractive to rising Chinese affluents.

Sorry, I didin’t provide the link.

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