20 Apr '11, 10pm

China gets the luxury goods – but maybe not the style

A rise in the spending power of China ‘s younger consumers is apparently not helping them when it comes to picking up a little style at the same time. Mainland Chinese media have this week picked up on a report released by the Hong Kong Institute of Fashion Buying and given it a interesting spin, saying that while more and more younger Chinese are now able to spend lavishly on luxury goods , they have been unable to pick up the one thing money can’t buy — good taste. That report showed that the age group for consumers of luxury goods and high-end fashion in China was between 20 and 50 years old — and compared that to the age group of 40 and 60 years old found for the same habits in Japan. What’s more, another report — this time from consumer analysts McKinsey & Co — claimed that an impressive 73 percent of those buying luxury goods in China were aged 45 and younger, compar...

Full article: http://www.luxuo.com/luxury-trends/china-gets-the-luxury-...

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