French labels are the most sought-after luxury products for Chinese shoppers as a booming economy creates a growing legion of newly affluent consumers.
French brands are the top choice for mainland buyers, followed by those from Italy and Hong Kong, consultants KPMG said in their report “Luxury experiences in China”, based on a survey of 1,200 consumers from 24 cities.
“China continues its march towards becoming the largest luxury market in the world,” said Nick Debnam, the firm’s head of consumer markets for Asia Pacific.
“Year-on-year as this market becomes more crowded, it is harder for luxury brands to enter this space. We also see rising brand recognition,” he added.
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