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Suddenly, the east looks richly rewarding – KK Chadha

Suppliers of fashion goods and other luxuries are taking a more active interest in Asia.


The east looks richly rewarding

Gloabl luxury brands have been looking to Asia for salvation as the effects of governement stimuli wear off and the prospect of a double-dip recession threatens the wealthy economies of Europe, the US and Japan.

Consultancy Bain & Co predicts luxury goods sales of 158 billion euros ($210 bn) this year, up 4% after a drop of 8% in 2009, mainly driven by sales in Asia. China, with 1.3 billion consumers, is now the world’s number-two luxury goods market, with sales up 12% in 2009 to $9.6 bn, accounting for 27.5% of global market.

Click here to read the full article in MIPIM Asia Preview 2010, page 68.


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