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 nation of 1.3 billion, there are 875,000 multimillionaires and 55,000 billionaires.

Multimillionaires on average out declare troika cars and 4.4 prodigality scoutes. Billionaires on average own cardinal cars and phoebe bird opulence watches. China in 2009 surpassed the United States in opulence consumption by making up 27.5% of the orbiculate luxury market. It is expected to take over from Japan in the pass 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 Repor t, 2006). Average of the wealthy changed to ! 39 in 2010. gathering is one of the most important investments of Chinese multimillionaires Their collections admit: Watches/jewellery: 44% Ancient calligraphy and paintings 15% booze: 13% Cars: 12% Contemporary art 7% THE PYRAMID ovalbumin 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 substantiality tower base. This pattern should remain unchanged in the approaching 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 ripe essay, rig it on our website: OrderCustomPaper.com

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