China is one of the fastest-growing markets for luxury goods in the world, but not just because of the sheer size of the country.
It’s all about demographics. It not only has a burgeoning class of nouveau riche, it’s also got an entire generation of what some may call spoiled brats who have a taste for luxury but also money to spend. In China Liu Ming is known as a “little emperor.” He was born under the policy of one child per family, and his parents have given him everything, including a garment factory in Beijing so he can launch his own women’s apparel line, and money to buy a kindergarten, his latest investment. [Full Text]
[Image: A clerk walks out of an outlet of the French fashion brand Hermes in Shanghai, photo by Liu Jin from AFP – Getty Images ]