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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1510)	11/18/2003 7:01:38 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Italy’s luxury sector eyes China with hope, fear MILAN: Big Italian luxury brands are gleefully opening stores in China to lure the booming economy’s newly rich and are racing to ensure their goods are “must haves” for the fresh big spenders. But smaller firms tremble at the cheaper products flooding out of China, fearing they will be put out of business by new rivals with lower labour costs and a weak, export-boosting currency. “China is both an opportunity and a danger,” said Mario Boselli, the head of Italy’s Fashion Chamber industry group. “We have an opportunity to take our quality goods to China but sales will take a long time to trickle through while Europe will quickly be flooded with cheap Chinese goods,” he added. At the top end of the market, luxury guru Diego Della Valle, head of Tod’s leather group, regularly travels to China and is thinking about a 10-year plan to open shops beyond the rich centres of Shanghai and Beijing. “Asia is and will be a huge luxury market and when I think of China’s potential, I smile. As it grows, more people will have spending power and want status symbols so we’re investing to make sure we’re on the status symbol list,” he said. On the shopping lists for the growing number of China’s wealthy are Italian clothes, bags and shoes as well as top quality European jewellery. dailytimes.com.pk