Feeding the eastern giant

摘要

China's vast population and rising wealth mean that it is no longer just a bellwether for international trends, it more or less dictates them, and with it, the strategy of many of the world's leading retailers. Recently published figures show Chinese consumers account for about 25% of the world's total luxury goods spend, and suggesting young Chinese consumers can spend up to 40% of their income on such items. This has major implications for tanneries and leather producers, as well as leathergoods and footwear companies, with retailers expanding into China's growing lower-tier cities to service that desire.