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Foreign Brands Battle With Local Manufacturers In China's Luxury Market

February 27, 2012: 01:53 AM EST
International brands, such as L'Oreal and Gucci, have to compete with Shanghai Jahwa United Co. and other local manufacturers in the $33.7-billion luxury market in China. Previously associated with producing cheap counterfeits, China's consumer brands are shifting their attention to the high-end market, which is driven by increased consumer wealth, a growing middle class, and overall economic growth.
"China Luxury Pits L’Oreal Against Chiang Kai-Shek Kin: Retail", Bloomberg , February 27, 2012, © Bloomberg L.P.
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