A Hands-Off Management Style Suits Chinese Buyers of European Luxury Brands
Chinese companies have been snapping up classic European luxury brands this year, including Carven, Bally and Lanvin. But if the buyers want the best return on their investment, they should maintain a hands-off approach to management, analysts said.
Investment in upmarket labels comes on the back of growing spending by consumers from the world’s second-largest economy. Purchases by Chinese shoppers make up 35% of luxury sales globally, and this is forecast to rise to 44% by 2025, according to recent reports from McKinsey & Co. and Royal Bank of Canada (RBC) Capital Markets.
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