Chinese Market to Stabilize in 2015, LVMH’s Watch Chief Says

Bulgari store | Source: Shutterstock

China’s luxury watch market will stabilize in 2015 as the industry recovers from last year’s decline in demand from high-end customers, according to Jean-Claude Biver, head of LVMH Moet Hennessy Louis Vuitton SA’s timepiece unit.

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Luxury Brands Gear Up for Chinese New Year Spend Abroad

Chinese shopper looking at bags | Source: Bloomberg

From Paris to New York, purveyors of luxury goods are teaching staff Mandarin, offering traditional New Year “hongbao” gifts and flocking to social media sites as well-heeled Chinese tourists pack their bags to ring in the Year of the Goat abroad.

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Chinese Shopping Agents Cash in on Russian Currency Slide

A Gucci wallet of unverified origin listed on Taobao | Source: Taobao

Chinese workers and overseas students in Russia have been snapping up goods at low prices caused by the steep fall in Russian rouble rates before brands can adjust them. These shopping agents, known as “daigou,” stockpile the products before selling them at a profit to buyers back home.

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