Pursuits
China Luxury Sales to Get Boost After Leadership Change
This article is for subscribers only.
Luxury companies are betting that Chinese shoppers who are buying fewer gold bars and lavish gifts for their business dealings will loosen the purse strings after a once-a-decade government change in Beijing.
The leadership transition beginning Nov. 8 will clear uncertainty on political appointees and economic policy, encourage business gifting and boost luxury sales next year, said Kent Wong, managing director at the world’s largest jeweler, Chow Tai Fook Jewellery Group Ltd.