Luxury products shine as Chinese turn brand-savvy

BEIJING - Chinese consumers are becoming increasingly sophisticated and brand-savvy, underpinning a fast-growing market for luxury products, according to an Italian luxury material manufacturer.

"The Chinese consumer market is promising not only because of its volume but also because local consumers are very reactive, enthusiastic about new things and sensitive to brands and quality," said Andrea Boragno, chief executive officer and chairman of Alcantara, which makes a leather substitute used in fashion, accessories, automotive interiors and consumer electronics.

The company opened its second international store in Shanghai in April following a concept store in Milan where the company's headquarters are based.