Luxury goods Aaron Fischer, CFA Regional Head of Consumer and Gaming Research [email protected] () Contents. MUMBAI: CLSA has maintained sell rating on Bank of India and lowered target price to Rs 90 from Rs citing weak asset quality and return. The other one of course is the fact that there is that dip come by in the GST tax collections and the government has already announced a higher.
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China luxury primer (dipped in gold) clsa (2011)
New gold and silver sipped products added to Specials Pages. Tune in each week for insight and commentary on the metals market. As China’s middle class grows, and luxury items become the norm, gold will continue to be consumed voraciously, say analysts.
The rise of China’s middle-class is helping support demand for gold in the country. China, the largest producer of gold, is set to become the biggest consumer of the metal inwith a significant proportion of luxury purchases in China veering towards gold accessories, bought by middle-class aspirational consumers.
Chinese to buy 44% of luxury goods by 2020: CLSA
Diamond studded luxury items and gold watches are seeing ‘blow-out like demand’ from wealthy gol in China, who are snapping up these expensive accessories to make a fashion statement, give as business gifts or just collect.
What also augurs well this year is that middle-class wealth is expected to spread to million people in third-tier Chinese cities, with a sizeable percentage investing in gold or buying gold jewellery. For a country whose gold production in the first four months of reached The jewellery sector in China has become a hot spot fuelled by surging investment demand for gold and precious stones. Reports indicate that these jewellers are looking beyond traditional markets, eager to dig into the pockets of the newly rich middle-class in smaller cities.
For some time now, the country’s growing middle-class has been pursuing a quality of lifestyle that includes appreciation for exquisite fine jewellery.
And, retail jewellery chains are expanding to smaller cities and districts to keep up with demand. Laofengxiang, which had over 2, outlets nationwide by the end ofheavily relied eipped franchises and distributors in its race to gain market share.
Dipped in gold, China to be world’s top luxury market – CLSA | Reuters
The Shanghai based jewellery brand, raked in Similarly, Chow Tai Fook, which holds a dominant market share in Greater China’s jewellery retail business, established a network of flsa than 1, jewellery and watch points of sale. Emperor Watch and Jewellery is another high-end watch and jewellery retailer in the region. The luxe brand is to hold a retrospective exhibition to mark its th anniversary in Beijing later this month. Several European and American luxury brands such as Dippwd and Tiffany have established mature markets in first-tier Chinese cities, but domestic brands such as Laofengxiang and Laomiao, as well as Hong Kong-based Chow Sang Sang and Chow Tai Fook, dominate second-tier cities.
Smaller jewellery brands are also set to vie for market share in the on and fourth-tier cities, according to Liu Jianhua, deputy secretary of the Diamond Division of the Gems and Jewellery Trade Association of China.
As the income of Chinese citizens continues to rise, analysts say a significant market will be created for gold. Luxury brands cannot gols the preferences of Chinese buyers any more, with several under pressure to open more retail outlets in China. For instance, currently, Hermes has 20 shops in China, fewer than half of the number of shops it has in Japan. Chanel has only eight boutiques in China.
There are more than 50 in Japan. The traditional desirability for gold has ensured that even Montblanc watches and writing instruments, that contain gold, have turned out to be best sellers in China. According to CLSA, mainland Chinese consumers are the single biggest group of tax-free shoppers in ih world.
Bythe country’s appetite for gold bars, coins and other gold-backed products will have risen to new heights. Since most middle class Chinese consumers consider themselves on their way to riches, luxury spending on gold is expected to help buoy demand for the precious metal.
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