The Chinese Dream

The Chinese Dream
a New Eldorado for Luxury Brands

Faced with a stagnating Japanese market and falling sales in the USA, luxury and premium brands are enthusiastically turning to China. Last century, the American dream promised success for all in exchange for hard work and a little luck. Now the Chinese dream’s turn has to come.

The Chinese are optimistic about their future, supported by a booming economic superpower.

47% think their financial situation is better today than 12 months ago
67% think their financial situation will be better in 12 months’ time (source: BBDO Voices, September 2009)

More and more people are gaining access to wealth – wealth that is earned, not (yet) inherited.
Most fortunes in China were created in the past 20 years. They are young, with 7 of the 10 richest people aged under 45.

The average age of a Chinese millionaire is 39.

“In China a Ferrari buyer is 35-40, 10 years younger than his counterpart in most other countries.” (source: Business Week)

In addition, more and more people are living comfortably for longer and new mindsets are emerging in luxury consumption.

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