13 Apr '11, 9am

Luxury brands see Taiwan as platform to China's big spenders

TAIPEI: Taiwan and Beijing plan on expanding cross-strait tourism by allowing independent travellers to the island as early as June - a move which has drawn many luxury brands to Taiwan in hopes of cashing in on China's big spenders. The Chinese are now among the world's top consumers of luxury goods. "We think (Chinese visitors) can improve our business substantially. We see our stores in other countries where Chinese visitors start to come in, their businesses have improved at least 20-30 per cent. They're big spenders," said Ornatus USA President Michael Deprenda. German luggage maker, Rimowa, has opened its world's biggest flagship store in Taipei, placing its bets on what it sees as Taiwan's huge market potential. Last year, Rimowa's business in Taiwan grew 60 per cent. Rimowa is not the only luxury brand eyeing big spenders from China. Five-star hotel chains, like W,...

Full article: http://www.channelnewsasia.com/stories/marketnews/view/11...

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