1. LINE

      Text:AAAPrint
      Economy

      China's luxury market slides 2% to 113b yuan in 2015

      1
      2016-04-14 09:25chinadaily.com.cn Editor: Feng Shuang

      China's luxury market slid some 2 percent to 113 billion yuan ($17.38 billion) in 2015, according to Securities Daily, citing the latest report from consulting firm Bain & Co.

      The downward trend is mainly triggered by a sales drop in watches, men's clothes and luggage, the report said.

      China's ongoing anti-corruption campaigns, the economic slowdown and a slump in the stock market in the second and third quarters made an impact on the luxury market, it added.

      The consulting firm projected that the market size for overseas purchases fell to 34-50 billion yuan ($5.23-7.69 billion) in 2015, compared with 55-75 billion yuan ($8.46-11.54 billion) in 2014.

      The decline came as a result of the adjustment of global price differentials by major brands, which trimmed overseas purchase agents' profits and drew some customers back to the domestic market, it said.

      Fashion brand Chanel led the wave of price leveling by raising prices in Europe and cutting them in Asia. Other brands, such as Cartier, followed suit to cut prices on the Chinese market.

      Meanwhile, the Chinese government tightened control on overseas purchases in a bid to channel consumption on luxury brands back home and increase the GDP figures.

      Since September 2015, customs has strengthened checks on travellers and parcels coming from hit shopping destinations. It has also encouraged cross-border e-commerce sites to phase out overseas purchases.

      On April 8, China adopted a new tax policy on cross-border e-commerce platforms, which is expected to bring about changes to the luxury market.

      Earlier, luxury brand Prada Group reported a 26.6 percent plunge in net profits for the 2015 financial year ending in January 31, over sluggish Greater China market.

      British fashion brand Burberry Group Plc posted a 4 percent quarter-to-quarter decline in Q3 retail sales, and Italian fashion icon Giorgio Armani SpA reported 3.7 percent revenue growth for 2015, a sharp decline from the 16 percent growth rate in 2014.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 亚洲精品自在在线观看| 中国xxxxx高清免费看视频| 成人黄动漫画免费网站视频| 中文字幕亚洲精品资源网| 久久中文字幕免费视频| 亚洲一区精品中文字幕| 久久久免费的精品| 亚洲AV无码精品色午夜果冻不卡 | 国产又大又粗又硬又长免费| 亚洲乱码av中文一区二区| 成人黄动漫画免费网站视频 | 日韩亚洲国产二区| 七次郎成人免费线路视频| 亚洲真人日本在线| 免费无码又爽又刺激网站| 亚洲AV无码成人精品区蜜桃| 91香蕉在线观看免费高清| 亚洲avav天堂av在线网爱情| 蜜桃精品免费久久久久影院| 美女黄色免费网站| 中文字幕在线亚洲精品 | a级毛片黄免费a级毛片| 亚洲精品无码不卡| 毛片免费全部播放一级| 精品久久亚洲一级α| 亚洲人成无码网WWW| 久久综合九色综合97免费下载| 久久精品国产亚洲av影院| 最新免费jlzzjlzz在线播放| 国产精品亚洲精品爽爽| 亚洲欧洲∨国产一区二区三区| 91久久精品国产免费一区| 国产成人精品日本亚洲专| 四虎精品亚洲一区二区三区| 国内少妇偷人精品视频免费| 亚洲天堂一区在线| 免费在线观看黄网| 精品国产污污免费网站aⅴ | 亚洲av日韩av不卡在线观看| 免费精品国产自产拍在| 老湿机一区午夜精品免费福利|