BIZCHINA / Biz Life
Luxury brands for women
(Shanghai Daily)
Updated: 2006-11-03 14:54
Women in China are catching up to men as consumers of luxury goods,
industry officials said yesterday.
A Chanel shop in Shanghai. Women in China are catching up to men as
consumers of luxury goods, industry officials said yesterday. [newsphoto]
More economic independence is giving women more buying power, a speaker
told the annual China Luxury Summit in Shanghai.
And as incomes rise and the middle class expands, research indicates that
shoppers in Shanghai are increasingly turning up their noses at luxury
goods, while consumers in second-tier cities can't get enough.
"Men have been the traditional buyers, and in 2001, three out of four
consumers were men," said Emmanuel Prat, president of LVMH Moet Hennessy
Louis Vuitton, the world's biggest luxury goods group with products
ranging from perfume to champagne.
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