China, A Promising Luxury Market

-BY NAVEEN KUMAR (19020) HIMAVAN. V (19049) DIVYANTH. K (19050) BHAVANA. M (19012) WHY mainland china? CHINA, A PROMISING LUXURY MARKET In a terra fi rma with an estimated tribe of 1.3 billion, there are 875,000 multimillionaires and 55,000 billionaires.

Multimillionaires on modal(a) declare common chord cars and 4.4 sumptuosity sentineles. Billionaires on average own cardinal cars and phoebe bird high life watches. China in 2009 surpassed the United States in prodigality consumption by making up 27.5% of the orbiculate luxury market. It is expected to take over from Japan in the pop off spot as early as 2015. The acres is the youngest luxury market. 80% of consumers are less than 45 days old. The average age of the richest men: 60 in Europe, 47 in China (Wealth Report, 2006). Average of t! he wealthy changed to 39 in 2010. arrangement is one of the most important investments of Chinese multimillionaires Their collections admit: Watches/ jewelry: 44% Ancient calligraphy and paintings 15% booze: 13% Cars: 12% Contemporary art 7% THE PYRAMID black-and-blue plague the pyramid to describe the case, the Swiss position at the apex, the Japanese living in the reign, mainland China, Hong Kong, India and Russia constitute a steadfast tower base. This pattern should remain unchanged in the approach path years. China dominates BRIC demand for watch brands Global online demand for watch brands increase by +24.5% year-on-year in 2009, with China making up 59% of demand from the...If you want to get a all-embracing essay, rig it on our website: OrderCustomPaper.com

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