Sales of luxury brands in China slow, but still grow by 20 percent
By Wang Wen | China Daily | Updated: 2012-07-20 07:54
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Pedestrians walk past a Chow Tai Fook jewelry store in Nanjing Road, Shanghai. According to Bain & Co, the growth rate of China's luxury market will decline to about 20 percent this year compared to about 30 percent in 2011. Wu Jun / For China Daily |
Mainland market is unusual with 60% of products bought as gifts
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