Chinese Luxury Goods Brands Grew Faster Than Foreign Counterparts, DTT's 2015 Report Shows

China's luxury goods companies grew 33.4 percent, significantly outpacing their foreign rivals, according to the “2015 Global Powers of Luxury Goods” report by Deloitte Touche Tohmatsu. Data from the report revealed similar companies in the United States grew 9.4 percent, while UK brands posted 11.1 percent during the period. Of the top 100 fastest-growing luxury-goods companies, seven came from Hong Kong and China, and accounted for as much as 11.3 percent of the total sales. Leading sellers of luxury goods include LVMH Moet Hennessy-Louis Vuitton from France, with $21.76 billion in sales, followed by Swiss company Compagnie Financiere Richemont in second place and The Estee Lauder Companies Inc. from the United States, in third.