With official releases pegging China's third-quarter GDP growth at 6.5%, the "world's factory" is hitting its slowest pace in nine years and if the luxury goods industry continues to depend on the market for revenue growth, it would a recipe for disaster.
Chinese consumers will be the leading buyers of luxury goods brands by 2015, snapping up pricy items at home and abroad, according to the Boston Consulting Group.
The luxury sector is set to post double-digit growth this year to 191 billion euros driven by the appetite of Chinese consumers for top-quality goods, according to a study by Bain & Company released...