CHINA LIKELY BECOME WORLD'S LARGEST LUXURY CONSUMER
AsiaInfo Services, May, 2005
AsiaInfo Services 05-23-2005 China Likely Become World's Largest Luxury Consumer SHANGHAI, May 23, 2005 (SinoCast via COMTEX) -- JP Morgan, the world's leading investment bank, believes that the emerging markets led by China will be the necessary power for the development of the global luxury industry, in a report about the competitiveness of the world's top fashion brands in emerging markets. The investment bank said that the emerging markets, including China, Russia, and India totally account for of 8% to 9% sharesin the world's top luxury market.
Especially, China amounts to 5% while Japan is still the largest by taking 38% shares. JP Morgan stressed that although the emerging markets just heldsmall shares at present, they would be very important, event...
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