Matei Mihalca: Luxury China

From India’s Business Standard:

Luxury is spreading in China. The Bentley dealership in Beijing is, on a good day, one of the busiest in the world.

Louis Vuitton has opened stores even in second-tier cities like Chengdu and Xi’an, away from the prosperous coast.

Last year, the company held one of its four 150-year anniversary galas in Hong Kong (the others were in New York, Paris, and Tokyo), and it recently opened a giant, fancy new flagship store in downtown Shanghai.

But closer examination reveals luxury in China is a specific sort of luxury and, in fact, rather different from the notion of luxury in today’s developed economies.

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