New Market Report: Luxury Accessories in China
Over the review period, although luxury accessories gained a double-digit growth rate of nearly 20% a year, first tier cities such as Beijing and Shanghai saw somewhat slower growth in consumption, compared to inland cities such as Wuhan and Xi'an. These regions grew very fast in 2011/2012, with the total revenue almost the same as first tier cities. Many luxury accessories brands accelerated their outlet expansion in low tier cities; for example, Gucci opened 51 outlets in 32 cities by...
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