Jing Daily’s strap line is “The Business of Luxury and Culture in China”. New publication to me but they have reproduced an interesting article and a more interesting graph from Wealthinsight showing CAGR rates for luxury goods from 2008 – 2012 against projected rates till 2017.
Whilst South Africa is the largest market (probably on account of their large gold reserves), the fastest growing are going to be India, Hong Kong, Indonesia, Singapore and China. In particular the Chinese HNW’s are becoming more aware of less well-known wines.
Read the full article published by Jing Daily ‘From watches to wine, luxury trumps equity for Chinese collectors’