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7 Billion Dollar Luxury Goods market in China
2011-11-07
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The Luxury goods market in China is worth over 7 Billion US Dollars in Sales . China is the 2nd Largest market in the world for Luxury Brands and its estimated it will become the number 1 Luxury goods market in 2015. The government in China is looking at changing the taxing of Luxury goods in China as many Chinese people travel aboard to purchase their luxury goods and it's estimated that Locals spend 1 Billion dollars in the UK on Luxury branded products. So reducing tariffs in China will help keep some of the profits in China itself.
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