Chinese luxury market returns to world prominence

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Last year closed not very positively for the top luxury brands in the world. The results recorded in 2016 were far below expectations and reflected a large drop compared to recent years.

Therefore, the expectation that the market will rebound in 2017 is great. And all this optimism is already turning into real data. At least as far as the Chinese luxury market is concerned.

According to Facset, a multinational company specializing in the analysis of financial data on a global scale, the top ten luxury brands in the world have returned to positive results in the Chinese market. Among the highlights are Moncler, Louis Vuitton and Gucci.

And the growth estimate for this year is so positive that it comes as astonishing. After two years of unimpressive reporting, analysts believe China’s market could grow by around 26% in 2017.

It is also important to highlight that in the case of Louis Vuitton, the Chinese market is responsible for the highest growth rates of the brand worldwide and that for Gucci, the positive results began to be identified already last year.