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Now No. 2
February 20, 2009, Friday
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Print Edition
CHINA has overtaken the United States to become the second-biggest luxury goods market. Luxury consumption totaled US$8.6 billion last year, accounting for 25 percent of the global luxury market, statistics from World Luxury Association show.
The report said the Chinese mainland takes up 70 percent of China's luxury spending while LV, Gucci and Chanel are the top favorites among consumers in China.
The report said the Chinese mainland takes up 70 percent of China's luxury spending while LV, Gucci and Chanel are the top favorites among consumers in China.
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