Why Luxury Goods Are So Expensive In China

Luxury brands are finding success with streetwear among Chinese consumers — a move that has enabled them to charge higher prices. Louis Vuitton, Chanel, Hermès and Dior were among the top five brands listed under the “sneaker” hashtag on popular Chinese shopping app RED, according to Gartner L2′s “Luxury China: Streetwear Insight” report last month. The only other brand among the top five was Nike. Read more at CNBC.