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Article: CHINA'S LUXURY RUSH: EXPANDING VUITTON SHOWS MARKET'S GROWTH.(Louis Vuitton Malletier)
- Article from:
- WWD
- Article date:
- December 29, 2005
- Author:
CopyrightCOPYRIGHT 2005 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Lisa Movius
BEIJING -- Louis Vuitton is optimistic about the development of the Chinese luxury market, in words and investment.
"I think, ultimately, the customers of luxury in China will be sophisticated customers," predicted Bernard Arnault, LVMH Moet Hennessy Louis Vuitton's chairman and chief executive officer, here last month to reopen the brand's China World flagship. "At the time we first opened, a lot of brands thought the future in China was in secondary concepts like duty-free outlets. I think that was a big strategic error, because I am absolutely convinced that the customer will become sophisticated, and quite knowledgeable about ...