Chinese Appetite for Designer Watches is Strong as Ever

Date: October 13, 2009

Despite the credit crunch, a high number of wealthy Chinese are buying luxury watches. Luxury watches are in demand in China despite the economic downturn, research by a New York firm reveals. Pao Principle found that nearly two-thirds of affluent Chinese men and one-third of women have bought a designer watch in the last year.

Several leading watch distributors are now looking east in their attempt to cash in on China’s thriving economy. A spokesman for the research firm said: “The one-child policy has spawned a generation of more self-centered individuals. No longer content to be one of the crowd, this group looks to luxury goods to help achieve this goal.” (more…)

What Crisis? Luxury Still in Fashion in China

Date: October 8, 2009

By: Miral Fahmy

Editing: Alex Richardson

Luxury retailers, rejoice: The global economic downturn hasn’t dented demand for pricey designer goods in China, where a study shows the affluent are buying handbags, watches and jewellery in force.

The study, by New York-based market research firm Pao Principle, found that almost 90% of wellheeled Chinese surveyed had purchased a designer handbag over the past year.

Nearly two-thirds of men, and a third of women, also bought a luxury watch over the same period, while another 30% said they had gone home with one of the signature blue boxes of high-end jeweller Tiffany. (more…)

New Figures On Mainland Chinese Spending Bode Well For Luxury Retailers

Date: October 7, 2009

Pao Principle Study Shows That Luxury Market Has Less To Fear In The Next Year Than Expected

With luxury retailers looking for any good news in a still-tough market, studies by several organizations in recent months have shown that things are a little less ghastly than expected, particularly in Asian and other emerging markets. The newest of these studies, carried out by business consulting firm Pao Principle, indicates that recent spending trends in mainland China should please luxury handbag, watch, and jewelry producers.

From Travel Agent Central:

According to…Pao Principle, almost 90 percent of individuals surveyed had bought a designer handbag in the past 12 months. Unsurprisingly, men accounted for luxury watch purchases at a ratio of almost two to one over women. (more…)