Why China drives luxury

A former Soviet era building may not seem the ideal venue to house a conference on luxury goods, but its location - Shanghai - says a great deal about where the world's luxury brands see the future.

The event brought together the heads of many of the world's top luxury brands and the message was as precise as a Vacheron Constantin watch the future of the luxury good industry is China. For while the luxury market has long been driven by Japanese consumption 38% of the luxury segment, the evidence suggests that Japan's poll position will wane and it is China that...