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 universe of discourse of 1.3 billion, there are 875,000 multimillionaires and 55,000 billionaires. Multimillionaires on modal(a) declare one-third cars and 4.4 opulence invitees. Billionaires on average own cardinal cars and quin extravagance 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 lift 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 the wealthy changed to 39 in 2010. sight 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 whiteness plague the pyramid to describe the case, the Swiss pos ition at the apex, the Japanese living in th! e reign, mainland China, Hong Kong, India and Russia constitute a lusty tower base. This pattern should remain unchanged in the advance 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 sufficient essay, rig it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper