Aug 2, 2011

Olin Business School Retail Expert Attributes soaring Sales of Luxury Goods to expanding Personal Wealth in ChinaBy 1888PressRelease.com

St. Louis, MO – Sales of luxury goods, which analysts say could spike as much as eight percent this year, are soaring thanks to expanding personal wealth in China, says a luxury retail expert at Washington University in St. Louis.

“One of the key factors driving global sales of luxury goods is the burgeoning Chinese economy and the concomitant expansion of its affluent classes,” says Martin K. Sneider, adjunct professor of marketing at Olin Business School.

“These people are anxious to demonstrate their successes and newly found wealth,” he says. “What better way than purchasing and displaying or wearing the signature luxury items that Louis Vuitton and other similar brands market?”

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