Prada Luxury Brand defying hand-wringing in China

  The most populous country in the world has seen, until recently, as a hotbed of conspicuous consumption. Luxury brands have rushed to fill the void and a bundle. Vuitton, Prada, Burberry - you name it, you can buy it in China. And consumers are happy to show off their ability to buy.

But suddenly things changed. The valve has been turned off and most of the luxury brands of the West that China flooded now sit and wait for the consumers to get back in the mood to spend. With all the consternation Burberry slowdown in growth in China, it's just for the luxury of losing his composure.

Prada is, however, trying to keep its investors, employees and the rest of what happened on the continent. "I think we need to stay calm and less hysterical. Marriage I not such a dramatic market," said Patrizio Bertelli, CEO of Prada, according to Reuters. "We believe that is wrong, given all markets at the same level. We need to accept the diversity of markets. Adapt to different needs and traditions" Indeed Stay in quiet and brand.

At least one observer of China, believes that it is itself an inevitable sign of a discerning, sophisticated market - which would be good for upscale luxury brands. "As the luxury industry grows, the Chinese are getting more sophisticated about the products they buy," said Fflur Roberts, global head think of luxury goods research at Euro Monitor in London, according to the article Bloomberg when fatigue logo is at work. "It's not just the look of bling."

In fact, the top end of the luxury market is still ringing in sales in China. "Same-store sales of luxury brands like niches Bottega Veneta and Yves Saint Laurent, owned Paris-based PPR SA is expected to almost triple to increase over the industry average this year as a weakening of economic growth takes its toll on demand, according to HSBC "said Bloomberg.

A challenge for luxury brands market objectives evaporate as Reuters, 1 October found. It is then that all officials in China must have a "frugal style of work" rule bans the wearing or toting luxury goods in the world of work to perform. Such oppression (which also extends to free gifts) results a "chain of high-profile incidents, including a high-speed crash with Ferrari was the son of a high official and a local government official photographed luxury watches on the scope of its content view," says Reuters.

All of these brands to government officials leads people to believe that corruption is at stake This has led some Chinese detectives further studies "how to help luxury brands recognize expose corruption," says Reuters. If only their comrades had committed the same luxury.