Chinese Luxury Spend Set To Accelerate

SINGAPORE, Oct. 16, 2012 /PRNewswire/ -- Wealth-X, the ultra high net worth (UHNW) business development solution for Marketing Executives, Private Bankers, Prospect Researchers, Fundraisers and Business Development Professionals, released its report on the state of Chinese ultra high net worth individuals (UHNWIs)' spending on luxury items.

"Special Report: The Global Chinese Luxury Consumer" examines the impact of the decrease in the Chinese UHNW population and combined wealth on luxury spending. Charting trends in luxury spend among Chinese UHNWIs, the report gives insight on luxury categories that have seen major expenditure among ultra wealthy Chinese.

Commenting on the report, Wealth-X CEO, Mykolas D. Rambus said, "According to the Wealth-X World Ultra Wealth Report 2012-2013, Asian UHNW wealth is expected to grow by 7.9% annually for the next five years with China contributing to the bulk of this growth."

"The opportunities for luxury retailers are immense and their success depends on their ability to thoroughly understand the Chinese UHNW market. The rising wealth of Chinese female UHNWIs offers significant growth potential for luxury providers," Mr Rambus added.

For more information and to download a copy of the report, please visit: http://www.wealthx.com/articles/2012/special-report-the-global-chinese-luxury-consumer/

About Wealth-X

Wealth-X provides detailed intelligence on ultra high net worth (UHNW) individuals globally. The firm's Wealth-X Professional solution is the standard for banking, marketing and not-for-profit professionals working with the ultra affluent. Wealth-X is headquartered in Singapore with offices in all major financial centres.

SOURCE Wealth-X

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