Luxury Lifestyle

According to marketing service Bain, luxury goods’ turnover in the past, 2006 has grown by 9 % up to €159 billion. This year experts expect growth up to €170 billion - twice more, than in 1996. Bernard Arnolt, the head of the world’s largest concern on manufacture of luxury goods Moet Hennessy Louis Vuitton (LVMH), predicts doubling of turnover for the nearest 5 years. This branch should not be worried about clients. Never before the world had such amount of superrichmen, as in 2007. Besides “the rich become more rich”, asserts Lenz.

Manufacturers expect intensive growth of elite handbags and expensive clothes sales in such countries with growing economy, as Russia, United Arab Emirates and first of all China, where demand for luxury has grown by 50 % for the last year. President of the Italian brand Versace considers that the amount of the Chinese richmen, who can afford “superluxury” goods, is about 120 million. The network of the Italian boutiques Ermenegildo Zegna in 1991 was the first which has started business in China, today it has more than 50 offices over the country.

Versace, Bulgari, Gucci and almost all other large brands have followed its example. Hugo Boss has opened its boutique in Shanghai in 2006, and the manufacturer of elite watches from Germany Lange&Sohne which is part of the Swiss concern Richemont, the next year will open the second boutique in Shanghai.