China's appetite for luxury items is beginning to become insatiable. The country, which houses more than 1,350,655,000 people is now the second largest luxury goods consumer (after the United States.) The Chinese luxury market has grown incredibly quick in the past few years (45% since 2007.) With the middle classes newly acquired disposable income, the Chinese's appetite for all things luxury has skyrocketed.Despite high taxes and the piracy problem inflating prices, the Chinese shoppers still cannot get enough premium goods. The big-spenders are not only in the cosmopolitan cities such as Shanghai and Beijing, the smaller city residents, such as in Shenyang and Harbin are indulging. It is not uncommon for one single shopper to spend an upwards of $129,000 in one day.
The most popular brands in China are Louis Vuitton, Gucci, Calvin Klein, and Cartier. Many luxury brands have caught onto the Chinese phenomena, and are making their mark in the East as well.