80% Luxury Brands Enter The Chinese Market
At the International Motor Show, sports cars worth more than 20 million yuan were quickly placed in order; almost all the more than 90 yachts were found in the yacht exhibition; sales of watches, jewellery and gold increased significantly during the May 1 holiday. The data released by the World Luxury Association show that in 2007, excluding private aircraft and yachts, the total consumption of luxury goods such as jewellery, clothing, leather goods and perfume reached US $8 billion, accounting for 18% of the global luxury consumption market share. The scale of the market will continue to grow in the next few years.
The recent 2008 China (Shanghai) International Yacht Show also confirms this trend. Almost all the more than 90 yachts have found buyers. Among them, an Atlantis luxury yacht with a length of 16.5 meters and a price of 14 million yuan was also ordered on the spot.
It is understood that about 80% of the world's top luxury brands have entered the Chinese market. The Bugatti, the first luxury sports car unveiled at the 2008 Beijing international auto show, though it sold for more than 20 million yuan, soon received orders from Chinese buyers.
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