China's new era of luxury cooldown

Growth in the luxury goods market in China's mainland has slowed from seven percent in 2012 to around two percent in 2013, with expectations of similarly slow growth in 2014.

Luxury sales halved in China in 2013

According to yearly financial statements released by World Luxury Association (WLA), sales of luxury brands which increased around 30 percent in China in 2012 plummeted more than 50 percent in 2013, with businesses in watches and menswear taking the hardest hit.

• 'Custom-made' is trending in China
• Era of affordable luxury in China

• A new wave of Gold Rush sweeps on the first day of 2014
  
• Eye-catching gold collection debuts in Beijing
  
  

Yacht builders eye Chinese market
- While European consumers tighten their belts, luxury yacht builders are finding a flourishing market in China.
- With a growing demand for private yachts in China, sellers are targeting super-rich Chinese as their primary customers.