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In recent years, luxury consumption in China has been enjoying a rapid increase. Many top brands have tapped into China's luxury market for many years, such as Gucci, LV, and Zegna.
China's total consumption of luxury goods accounts for a quarter of worldwide consumption, dominating foreign luxury markets. But now many homegrown companies also have an appetite to compete in the world's fastest growing market.
It was clear at a recent luxury show held in Beijing's International Trade Centre, that the number of Chinese luxury brands is growing. Local brands should have plenty of opportunities to grow because China has a long history in the appreciation of luxuries, such as jade.