Luxury Retailing

In China, luxury retailing is represented in all of the categories, and luxury goods have become a symbol of success and a badge of wealth. World Luxury Association's 2009-2010 Global Report highlights three distinct characteristics of the China market 'The World Luxury Association' suggested five steps to mitigate the issues that impede expansion of luxury retailing in China. The booming luxury retailing is also supported by the widespread social and business gifting for relation building, which is often linked to bribery of officials in exchange for business and personal favors. Luxury goods of obvious high value flatter both the gift giver and the receiver. Apparently, all the proposed steps aim to put pressure on the Chinese government to make concessions and lower barriers in favor of the international retailers. The Chinese government already has laws in place as legal tools to clamp down on counterfeiting activities.