To attract these new spenders from what's quickly becoming the world's most promising economy, global luxury brands having been fighting for the market-share tooth and nail.

This year, Armani expanded by 20 percent in a matter of months, while Louis Vuitton and Gucci extended their networks from first tier to second tier provincial capitals.

Ouyang Kun, China Chief Rep. World Luxury Association, said, "The disposable income of Chinese people has been constantly rising in recent years. Global luxury brands now see China as the next Japan."

It's estimated that if China continue to grow at a similar pace, the nation will surpass Japan as the world's largest luxury goods market within five years upping its spending to a staggering bill of 14 billion US dollars every year.