Thursday, 12 January 2012

The Chinese are sustaining the European Luxury market

I spotted these Chinese shoppers in Berlin last October
The Chinese and other 'new rich' nations are snapping up not just the luxury goods of the West but it would seem also the companies that make them.
The Shandong heavy industry group Welchai Group announced yesterday that it was buying 75% interest in the Makers of Luxury Yachts the Ferretti Group. 
The other hunch economics journalists are mooting with increasing confidence is that the Luxury business will shift to Asia, where there is none of the European guilt at displays of wealth. 
The other fact is that Europe can still produce top end products better than anyone else, in some cases even better than the US Hamish McRae of the Independent thinks.
I hadn't realised that thanks to an export surge to Asia, Rolls Royce sales hit an all time high last year.
This strengthens my hunch that we should be investing more in 'Brand UK' by rejuvenating the 'made in England' cache in high end fashion thus helping to kick start our own economic prospects long term!

Schelay McCarter  2012 

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