It is hardly a coincidence that the explosive growth of China’s luxury retail industry coincided with a government-directed stimulus of 4 trillion RMB ($586 million) in 2009 to fund massive infrastructure projects. Well known luxury brands such as Richemond, the owner of Cartier; Swatch Group, the owner of Omega; LVMH, the owner of LV brands; and PPR, the owner of Gucci and Bottega Veneta, have benefitted handsomely from the stimulus, witnessing 20-30% sales growth year over year in Greater China for the last 4 years.
Reported by Forbes.com 5 hours ago.
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