Chinese luxury good consumption

China is Worlds #2 Consumer of Luxury Goods

Now consuming 27.5% of the world¡¯s luxury goods, China has overtaken the United States in luxury good consumption, and is now second only to Japan. Well-educated Chinese between the ages of 20 and 40 whose salaries range from 5000 to 50,000 yuan a month are the drivers behind this ever-increasing demand. China is predicted to become the world¡¯s largest luxury consumer by 2015, indicating outstanding economic growth, yet many believe that too large of a demand also suggests a widening income gap within the country.

Edward Lehman, Managing Director of Lehman, Lee, and Xu noted, ¡°With the increase in demand for luxury goods, Chinese consumers and businesses alike have become more and more concerned about the legitimacy and quality of their goods. Our offices throughout China have experience working with some of the largest luxury brands in the world to prevent the production of counterfeit goods. Our team of specialized attorneys has assisted businesses in all of their patent, trademark, and copyright needs.¡±

Morgan Crank

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