CHINESE BUYING MORE LUXURY COSMETICS
October 1st, 2010
BY WANG FANGQING
CHINESE consumers just cannot hold themselves back from spending money on luxuries it would appear, and the personal care product industry is reaping the benefit.
From February 2010 to March 2011, the Chinese had spent an accumulated amount of USD10.7 billion on luxuries (excluding automobiles, yachts and private jets) in domestic sales alone, about 25% of global luxury consumption, reported the World Luxury Association (WLA) in June 2011.
In 2010, travelling Chinese consumers became Europe's top buyer of luxuries through lavishing USD50 billion ...
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