Luxury shopping places in CHINA

Abstract

As recently as one decade ago, there was no stand-alone luxury brand store in mainland China. At that time, wearing a Rolex watch meant luxury, and such luxury consumers were called “Bao Fa Hu” (new rich in short period). With the reform and opening up of Chinese society, more people became rich and broadened their horizons through foreign travel. They started to change their way of life and their demands for luxury products like bags, watches, cosmetics, cars, clothes and so on increased rapidly. To cater to the needs of these local customers, luxury brands and top auto companies, mainly from Europe, set up their shops and factories in mainland China. From then on, high-end brands have been playing a critical role in mainland luxury world.