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China's luxury goods market bucks global trend

China s luxury goods market bucks global trend
1
2021-02-18 10:58:02China Daily
Editor : Li Yan
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Consumers pass a Chaumet store in Hong Kong. Chaumet is a luxury jewelry brand based in Paris. （YANG JINYAN/FOR CHINA DAILY）
Fiscal policies, higher purchasing power of young shoppers, digitalization and duty-free enterprises boost prospects
Due to the novel coronavirus pandemic, the luxury market last year inevitably encountered a slowdown. But the Chinese market has surfaced as a bright spot.
After an understandably rocky start, China s luxury goods market finished out 2020 with double and even triple-digit growth rates for some brands.
Bucking global forecasts of a 23 percent drop in the luxury market, the country is forecast by consultancy Bain &Co to enjoy a robust 48 percent growth in luxury spending in 2020, totaling almost 346 billion yuan ($53.5 billion). ....

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Forum spotlights women in retail industry

Under the theme “Women in Retail and Luxury Forum,” the Dubai Business Women Council, (DBWC) recently concluded its first virtual forum for 2020 amid remarkable participation of high-profile speakers representing local and global companies of the retail industry.
Organized by the DBWC in partnership with Adam and Eve magazine, the event touched on the current challenges that women are facing in the retail industry.
Hosted by Nadine Halabi, business development manager, DBWC, and moderated by Lara Mansour, founder and editor in chief of Adam and Eve magazine, the forum witnessed the participation of Georges Kern, Breitling CEO; Sabina Belli, Pomellato Group CEO; Riccardo Sciutto, Sergio Rossi CEO; and Ingie Chalhoub, CEO and managing director of Etoile Group and creative director of Ingie Paris. ....

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