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China Provides Space For Luxury Goods In Europe

2010/12/25 16:45:00 51

Fu Bing is planning to travel light this month while traveling to Paris. The 28 year old owner of a Shenzhen restaurant needs to make room in the trunk for Chanel, Hermes and Louis Weedon's bags, all of which she plans to buy in Europe.

"We have Chanel in China.

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But they are always out of stock, "Fu said." and I want to sell hermes bags in China. "

As luxury makers compete to open stores in China, they find themselves in Europe.

Flagship store

It is also surrounded by such Chinese tourists.

About 2 million 500 thousand Chinese tourists visit Western Europe this year, an increase of 500 thousand over 2009.

According to the London Institute of economic research in Oxford, with the increase in income, the figure will rise to 3 million by 2012.

Experts estimate that at present, Chinese buyers account for at least 1/4 of European luxury goods sales.

As the yuan strengthened against the euro this year, their purchasing power has been continuously strengthened.

"Typical shoppers in Wanda Square in Paris used to be celebrities, celebrities and royal families from the Middle East," says LuxeC ORP, French luxury strategy and marketing consultant at Paris. "Today, a large group of consumers who come from buses are Chinese tourists."

In November, Bain consulting reported that in 2009, Chinese people spent $23 billion 400 million on luxury brand handbags, shoes, watches, clothing and perfume, and more than half of them purchased overseas.

This trend has encouraged the luxury industry, which has seen a 6% increase in luxury sales this year after a 9% decline in 2009.

For mainland visitors, lower prices and more options are to attract them to buy in Paris instead of Shanghai.

Luxury goods

The main reason.

Fu Bing is looking for a Chanel bag to sell for $4700 in China. The price of another brand she purses is priced at $8800, while the price of the same style in Paris is $3900 and $6500 respectively.