China luxury sales 'driven by ultra rich'


The luxury market is one sector that has been a key driver of trade to Asia over the past few years.

And despite a slowdown in global growth, the outlook for high-end retailers is looking rosy. A recent report by the Boston Consulting Group estimates the luxury market will be worth about $1.5tn dollars this year, with China being a key market.

Shaun Rein, founder and managing director of China Market Research Group, tells the BBC that at the ultra-wealthy level, Chinese consumers are shopping a lot.

But he says luxury brands may have to change their marketing to attract the emerging middle class in the country.

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