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Luxury 2004: The Lure of AsiaThe "Luxury 2004: the Lure of Asia" conference wrapped up here Thursday, with participants from the world luxury industry expressing their confidence in the Asia-Pacific region, and in China in particular.
The two-day conference, organized by the International Herald Tribune, has attracted major players in the world fashion industryincluding UmBernard Arnault, the chairman of LVMH Moet Hennessy Louis Vuitton; Ferruccio Ferragamo, the CEO of Salvatore Ferragamo;Christia n Blanckaert, the executive vice president of Hermes International.
The representatives from the world famous brands had a lot of discussions on China at the conference, expressing their confidence in the country with a fast economic growth and vast population.
Arnault noted that Louis Vuitton will open 13 stores in the Chinese mainland by the end of this year, and all their products enjoy robust sales there. After the opening of a Louis Vuitton flagship store in Shanghai, another one in Beijing is to open later.
Moreover, Prada is targeting 30 stores in the Chinese mainland by 2008. Giorgio Armani, who opened a store in Shanghai in April, announced direct store sales on the mainland up by 17 percent and plans 20 to 30 stores in the mainland by 2008, when the next Olympic Games will be held in China.
Ferruccio Ferragamo note
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