Since the beginning of 2015, the world's luxury brands have been slashing prices in China due to persistently slow private consumption here and the weak Euro.
Many luxury brands are slashing prices in the Xiamen Paragon Shopping Center. Some brands, Gucci, for instance, even offering discounts as high as 50%.
After the discount, the price of Gucci's bags are almost equal to their market prices in Europe. However, as the first batch of discounts was offered to VIP customers a few days ago, there are not too many choices left for normal customers.
Burberry are slashing prices on their scarves by 17.5 percent, and windbreakers by an average cut of RMB 2,000. Another purse brand, Coach, has also cut prices on its bags by 30-50%. Besides, some of Versace's bags are also offering a 20% discount.
China's government recently announced a decrease on import taxes on consumer goods from June 1, which is expected to promote more brand-discounts in the near future.
