The Chinese luxury market will not be given impetus this year

Similarly to previous years, the luxury market grows only slightly in China this year, however the Chinese remain the dominant players of the global market – the study of Bain & Co. states.

According to the company, that reports annually from the Chinese luxury market, the Chinese luxury market will only increase by 2 percent this year, while this ratio in 2012 was 7 percent. The company expects a similar trend in long-terms; the volume of luxury sales in the East Asian country will decline, at best will only to stagnate in the next few years. (MTI)