About eighty-five percent of the world's luxury brands are now available in China, according to the World Luxury Association (WLA).

With Chinese consumers enjoying rising discretionary income , many of the world's leading luxury brands have opened stores in the country and the nation is now the second biggest market for luxury items.

Michael Ouyang, chief executive officer of the WLA, said that there are now some 340 luxury brands available to Chinese consumers, which constitutes 85 per cent of the world's total. Meanwhile, Wang Qingyun, Ipso's chief marketing officer in Greater China, has forecast that by 2015 China will make up 29 per cent of global luxury goods sales.