Analysts
estimate more than two thirds of luxury purchases by Chinese buyers is done
overseas, mainly in shopping hotspots such as Paris, Milan, London, New York
and Tokyo, which can offer savings of more than 50 percent compared with China
prices thanks to foreign exchange rates, tax refunds and other discounts. “While
they used to purchase luxury products to show off their wealth, now they want
to show their good taste, their personal choice of the best the luxury industry
can offer,” said Daniele Zito, from consultancy Bain & Co, based in Italy ... INSIGHT-Out with the old, as Chinese chase new luxury labels abroad | Reuters
estimate more than two thirds of luxury purchases by Chinese buyers is done
overseas, mainly in shopping hotspots such as Paris, Milan, London, New York
and Tokyo, which can offer savings of more than 50 percent compared with China
prices thanks to foreign exchange rates, tax refunds and other discounts. “While
they used to purchase luxury products to show off their wealth, now they want
to show their good taste, their personal choice of the best the luxury industry
can offer,” said Daniele Zito, from consultancy Bain & Co, based in Italy ... INSIGHT-Out with the old, as Chinese chase new luxury labels abroad | Reuters
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