China’s Middle Class Is Going To Have A Big Impact On Luxury Fashion

by MR Magazine Staff

China is such a big buyer of luxury goods that the country’s economic slowdown this year put a serious dent in some companies’ sales. On Dec. 15, Prada reported a 38% drop in its quarterly profit owing largely to a slump in China, and Burberry’s struggles in the country have been enough to frighten investors at times.
But 2015 is just one year, and in the long run, luxury brands’ prospects in China are actually quite good, thanks to China’s mushrooming middle class. Read more at Quartz.