Why Luxury Brands Are Celebrating China New Year
February 12, 2013 at 09:30 AM EST
This week, throngs of Chinese tourists will travel abroad to celebrate the Chinese New Year. And many of them will be spending their travel money on luxury goods. According to Bain & Co., Chinese shoppers make 60 percent of their total luxury purchases abroad, and their impact in global markets now makes the Chinese consumer the top spender in luxury worldwide.