In the following video, Bloomberg’s David Ingles gives an overview on Asia’s demand for luxury goods - with a particular focus on China. Here are some interesting takeaways:
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The business opportunities for Hollywood in China have always outweighed the challenges of cracking the country’s heavily regulated entertainment sector. In the last few weeks from the Beijing International Film Festival to Robert Downey Jr’s Iron Man 3 tour in China, efforts by Hollywood at increasing engagement with China is evident.
Photo: Actor/Director Hu Bing shopping with Affinity China guests at a private Burberry event at South Coast Plaza during Chinese New Year.
Burberry Group Plc reported strong fourth quarter revenue as sales of higher price point merchandise increased and strong demand in China and Hong Kong resulted in double-digit increases. Read more →
Over 1 million Chinese visited France last year. However, with the speed in which word of mouth travels in China, recent attacks on Chinese tourists in Paris have French tourism authorities pledging to ensure their safety or risk losing valuable tourism dollars.