Hongkong Ranks Fifth In The World'S Luxury Consumption.

Recently, the report on global retail industry released by CBRichard Eillis said that Hongkong, Beijing and Shanghai ranked the ten largest retail cities in the world, Hongkong ranked fifth, Beijing and Shanghai ranked sixth and eighth respectively.

It is reported that these cities are listed in the top ten ranking because of their great attraction to luxury brands.

In Asia, Hongkong is the largest retail market, followed by Beijing, Tokyo and Shanghai.

Sales in the Asian market account for 28% of LVMH's total sales in 2009, making it the largest market for LVMH.

In addition, the Asia Pacific market accounted for 13.8% of the Richmont revenue of the second luxury goods companies.

The European market accounted for only 3.5%, while the US and Japanese markets showed a loss.

The report also pointed out that London is still the world's largest retail City, attracting 56% of the world's retailers, but at the same time facing enormous challenges from Dubai, Dubai accounts for 55% of the total.