Zhu Mingxia, director of the Cheungkei Research Center for Luxury Goods at the University of International Business and Economics in Beijing, said consumer buying habits are shifting from entry-level goods to more expensive luxuries.
According to a report by Goldman Sachs released last month, the number of luxury product buyers in China will top 160 million in five years.
"Luxury brands are now exploring beyond first tier cities. Second- and third-tier cities in China also make up an important part of their expansion map," Zhu said.
Global Times reported Guo Pei, a Chinese fashion designer who designed costumes for the 2008 Beijing Olympic ceremonies, as saying it is important for domestically made luxury brands to demonstrate Chinese culture in order to become world-class brands.
"A real Chinese luxury brand will be born when its Chinese elements are recognized and loved," Guo said.
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