Chinese consumers continue to spend on luxury goods

11/11/2009 | Toronto Star, The

Western consumers may be reining in their spending, but many Chinese shoppers are continuing to buy luxury items. Luxury-goods sales are estimated to decline 16% this year in the US, 10% in Japan and 8% in Europe, according to Bain & Co. Meanwhile, luxury-goods sales in China are forecast to jump 12%.

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Toronto Star, The

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