Monday, Dec 22, 2014Monday, Dec 22, 2014

News

 

French luxury firm Longchamp eyes China expansion

Published on Oct 17, 2012 2:20 PM
 

HONG KONG (AFP) - French luxury handbag maker Longchamp is eyeing a huge expansion in China despite the country's economic slowdown, its chief executive said as the firm opened a new store in Hong Kong on Wednesday.

The 64-year-old family-owned brand, famous for its coloured fold-up nylon and leather totes, said it was optimistic about the Asian market, especially China, as European economies - its main markets - remain "unfavourable".

"We have no intentions to slow down our expansion plans, especially in Asia," chief executive Jean Cassegrain, a grandson of the founder, told AFP.

He said he had no concerns about China, adding: "The purchasing power of Chinese consumers continue to increase and it is not going to change" even as the Asian powerhouse's economy slowed.

 
If you are not a subscriber, you can get instant, unlimited access here