Mainland China is known for higher luxury goods prices than anywhere else in the world. So how much more expensive are they?
According to a seven-city survey done by China Daily, the results confirms that luxury goods prices in Beijing and Shanghai are indeed the highest.
Louis Vuitton, one of the world’s best-known luxury brands, is keenly aware of this pricing challenge. For instance, the French fashion house’s Speedy 35 in monogram canvas, one of its most popular handbags, costs the equivalent of $1,060 in both Beijing and Shanghai.
In Paris, the bag costs only $810, followed closely by London at $815 and New York City at $895.
When it comes to luxury watches, Hong Kong offers some of the best deals around. A Rolex Submariner Date in steel and gold, an iconic men’s watch, costs just $12,200 in Hong Kong, a duty-free shopping paradise. The second-lowest price can be found in New York at $13,400, then Asian shopping hub Singapore at $13,995.
In Beijing and Shanghai? Prepare to fork out $16,385.
This certainly explains why so many Chinese shop so intensely when they travel abroad.