Back in 2008, China's super-rich already bought a quarter of the world's luxury goods which are imported from overseas with a total expenditure of over 8.6 billion US dollars.  And It is estimated that if China continue to grow at a similar pace, the nation will surpass Japan as the world's largest luxury goods market within five years upping its spending to a staggering bill of 14 billion US dollars every year.

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Ouyang Kun, China Chief Representative of the World Luxury Association, said, "If you take into account the luxury goods that Chinese tourists buy overseas, the total spending would be even larger. Chinese people have spent 25 percent more on luxury goods every year so far."  And these luxury goods are basically coming from European and the US brands.

As Chinese customers become more sophisticated, they use fashion to differentiate themselves. The nouveau riche of China have now been labeled the “Shanghai Hipsters” and are a new breed of the luxury consumer.                          ~Fflur Roberts, Head of Euromonitor on luxury goods