Research
May 27, 2014
Burberry on Tmall
By Joe McCarthy
Although luxury growth in China went from 21 percent in 2012 to 2 percent in 2013, L2's latest China report asserts that the overall picture is rosier than this plunge suggests.
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zOhrhxuIPzErifJg87xBNBzV6lvCzGYNJ10NWLvu+2Tk0NHpidaCcjM\/B3UCvx4jgtHz0Bbsd0fxPVbsJJtx5lSj8NheAHomGdsHXR21V4JBeqx+1Vmtbe1XOw7LTgJ29ukE4w1whbGjlbK5QV7c2UQcbmgLC\/3B\/bcDXrRbL0QcxZQ6\/eRSt2gyNdV41yfN2\/LipfNrA9MNQNRwwmYB7Ts88jmuMpJLkPTtY4gI3DTFi1S3\/loNhSaMGI8nINzYftDiFiEoAFD49qOgwzaumd6BfJMTF\/FTr8hqZsGdJq2Ki8vIrMVL9XkasSbHKNdC1RTBryuJ0rcepm7gT9gMcdVYYattvkl\/hf9meQbsqWTz6GEAjEU5tCsFWqBb2t\/2\/rqhhm0ancqeJd5HHfGQkhM\/c\/nzkFJY1Af\/QDmfDfUf+K+t4Vb2M9sgxQiAVaq+BvHXTYJl\/id92jW76VCmKCo5R1MsOuycctVsn5DNt7khKGeFwW7egKGPxONIuxw3a1UQl1fqm+F7us7oZU1yqyHnaLtaqTNVFDl09q+ABsqF7\/WPMbVQCbe2+U6n9qxeklTXk4GfZQ1lPZVLguuUfyxvs0afqkPkh+plGf8bfgZm8Fc8TTsSr8cbjGEeWVJfUUdZFXprXqGpMS8IQhxTNaUreu4EkOuGeBC+mOmbYGVVEzp3xnadH6mJSAthZLSNOEHgkR24OgUsl9GK9n+l9t2JsQjayuSmMzYK2qcRNlaycSvuotHs+aE3yVpPzrXBkVJgVL4KTS12llBBv5ea4Y2U0NPKl6\/+MoH0X0A4aK4a695d4Gh2CDF8vYte\/YQZzDJhnT4\/h4bNmuSfRRQqNuo9jrV\/AZd6AOraPZFL\/ni+OhhiuCGuPxzKNaiPYi8pibmkBW5dcgzWpksokLcNNBLZqCaxKCSqRz\/I6xF2B9bMM0VrfxF\/I6mbb+RiDPiGIvZD4+H7MhCQJPK1XTUneG6PaspQ52gAXRNek23YD4\/8tVnQwBOVq4KmuB2m9cfFs4Mgjn5yXurQYdZtOTZP2jN4zgRp1AhvzW74orXOo65hxO4SbWIdz6aRXMX4W3dM0qubZTfQ9+o4aFI0926KpotE2aT\/gQ+VR2hkwH4GtPa8J2iEUmClfs5sWr7pNj3zQwLdVLFmU7o8JLB+IVL\/UUBAGgTQ3qIi1Qf9bPtYvN\/xwQ07mH23U5QsmmmXSJU+6DvQdNrKnCReC\/EKW4KTk1biWnyMMlRGhd4GGK3la0XgF4E3mdqaJ6PlPpjJD4KQVZGaS111mDYBX2VfJIOvAFPhGXV10CtrzwE94sxTZBYa7Cvz1Uq0ZfNYVgiElTUFwtZbWLkYKXmsEYe68tshiil8er108z3KVU1gaWZ4iHD46JyycCM+C2YCYnWFHg8DcO339leH4Pg\/fmCKijB8cj5eFQP3GsJkhuA0WPmwGCmw7\/0xw\/JoB4WMKszIO2rahjJB5Y2HwRbksBzGfqrXiVnMAFdUFY6wihI03TLfHQy027Ivk\/60waL5bkb6bDGCpZx2sx8GB4WbGDMdIQBG2wNEiLFib41cCk2IrS\/pF9SkBjECJq1me\/POQ9brUmdybQzs1XyhI3k2xIZxYdNiw3n+dqYMHnzZNroSlB5Bseu0\/eswKRQcwLitj09pHn1l5nTb6OHzoopFUZo7G61oh8iS8e643K4NUbAWlOOMiQj97JCp4KJ1s+ZywbkuJx5wT7WizPjOYnpsMVyNeAR3CrvRWlXJ+tCeaW\/WQ6CtxmFhaNj1P02h1O\/f8Zwb\/nzzfnOSLP4Dsp4e9pkyx7SpCf0xyDDnkGRQiUlP2rzufJ9Da7wAkWUJrW5Myn1Gq5evHZJIossqWl8hEWM3XcH+vRRIojJ5De3WfFaR5gjR2O9Amhs\/t5j9VUmzW\/\/87JwUieE44\/8o3HRBlWvuJXRiKBTmecWvSlBj4sTu3P42Gj39V3AWPgBML1fa0L\/mkpx6vzgQzT+qn3dpioKto0R+MVZ\/hMUMTEN1cHg97RK5tUXbv01\/YpMCR+m2VF5Dwbfn9IzlA3YDuvjjfNGTmZ3Xq9U48PPG3Dq5ouEv\/JFQolOMbmyBdyfKYi6rFg3OSH9Qis2laGLljGGP6kAtLifCrzID092SVyU4W1T9VnDXP8dr\/rS1Qs\/qAhFxwasS7e0qYLc+mO+7qAHLdn2hZ3JeV51\/VAmz+pNk0UwGvzOiGnNzbonRJX5NC8seQIEXqOsfPnasF+wx3tPeeSMuxlo9\/dWRvtxGhBjnoRNIsubbZ9tOMvyIkUMk9rElcObl9anOWzsASKfQE\/+WRKKZGptyS8KhCTffsUZp8Lj7ZdFkACLah+aYHZtfhJV72cJ+HsUmyyR9oyHrdpYN90q3RNBncDV4mNlH9MvDEtldMqu0Ql1iag0Eqk\/xuWZqhJMq2dOieUoEqIxcBBofVEERtp1gfUY02+ETMQoh22LS5Qws40o2PWcSfdMmHYUMaiDD5K6Ih+QK9oArF\/6doK9eZkYqRlfphOMTyFTXvsk6vP3RliOfaVc+Aok\/K5T36RF4YJy7QJ5r0B3+IWSPHpcXlXU2dIF94NviRlysZjd1d+FvguNdjnNKMF+hG5oyufMwkuKHswQ6QlKB7spQYxPO7sJgLOzt9ehTzwFYk6vzFrGSXAZ109ttFW7Y52o\/Xmqfy+tiLYU0jz\/iFU\/UIeiEpZvXDua9jEfieyiXKZh7Ne0SF\/kGPeUDGt0tRS8HUpn9FH4fxFLeVV\/y1DTN++qHMko+7dhiHOafjddw25aA0IkXxisRzXHm\/BMJMvP1Xc4NoL1OTgyCoI\/hfUL7VHkedXFyOHRjVfGDE8NBk7fcLy9DXHXC07b8Wsw5l7Z+p+W4tMAubgaSVgCOEK95xSX8tKTY+dVbHn1c6g1E7UdIWugPKs5E2p3nMgrfwPVb+YQZHBugZjFWbVdVQqO5NyiAORzuTfE3AZ2X0mFFiK1fdzT3qU+VRJ0BCPJ4BvDQwPlx2Mrc3pKewAxcRKPJgRc2YtZxqMTeKyAdolLsneriWBSc+B0R8wzz+37gD1o8fFcqhRNwjYyfdZrs6y\/FhveqpN\/rrW2RC7TYClwDTU\/9bG4YhoF+p0QPMI5Fz4DJrJUV+0S35IwSm\/rIopgkm0DZuEmS2HWK6uOnoM8aH\/iro9qM\/glh6gPB7LrcpuLJH1i\/avDmcaGKQXsMp8wNakgPaUmz25in\/qVQ+nUQxpp\/sMqGZkgvYouI+\/r7sVfwM5WoporZ4fWw5z1xnjEUfqZSIilZnfoA0J7bdUiPPoGkk+u7c+hsELrqF68PLNlUD9XeupzO\/48UZ+JHLL61sQClWiH+G9r0QzIHkufY\/bXKgJeFJJIzmptmbtz65jv2jBTx39d8AbL\/+4rvcfTtO8k\/iw3LiflqDaPAVKrIOICLAV6nmzDo9cvINjQt317QMJZriGT2oE4Ukbb9TXiwcbTy8HuxwC9jCmARmtKWI8lBSL+y1+QfwnlznuR8wy\/YN9Jx2Q8CXjs2mWaGn7vVxyZF5eTEQ5rHXntBFbV8DNf5VwOZbVvGnHOJjBugI7uxLt58oJ0K2jSVps8qa1M3nQTyMcV8V\/8FWcFyFl2hIccEzjLnZYxcJifuCYSH9i5g\/jo6AGVisLvwKniDU+WgjeXPNACKLdt832v+5PKZkBsYHf0usCUpr056Vwy\/A\/gUjjm95RunGJ7FpKps0piWafZPdd1Hbu1PhmAzVx\/UrABqKAln+I3RgOMLlwe9f61xgeVPZjU51Sq17jBdQqHGGlbM48e0UW03I08MOG0TWMmjXc27b3s82zi7lG99pQ2un7SjJaKK6uDn\/KxTeTvccgWjCobSyY9FKVo5SwtK9svUdaJncgQO7jfiPhky8Ui\/7iT8dOXbmPu\/As6r4eG1e2zZXM7lx8769QvOFWvleGMUy7\/0TQ2EP9jYzVUnojvxMhVpMmW7T5YhJ5qZv9PclS5LBax0Z3\/NQ82NWWeHPEdtnzxIC77uIFrruFHSUIdkHjMXZXLQstGq9MWYFko6icRYtNxc+nmhtjd6jEHtvso3l1QXO4ByLmnb6ObTn356GlFdToGGbNVIgRQszxK1EiWN\/mViI1ULtH15mgHBgdlH1teN\/Deb+mleKa5Pu3pxG0pIus0xWjujgRE+\/8AnFlS2x8t1Y51ZBcd4GOkiEY4yz9afu5S9vO96FncxRv7ffiSRSiAylg6wWxu9uaCqz6Z25EikqzkJagk6oL5wjdT1ldGbrPaEFnATqcUZQnxO9DqAwHAiJvChdhD3yr6wbjrZnjP04iZNtTtbrFu4eJZXrBXA\/eh0drh8KAlpd0XM5GvBI+YN5UG33F\/fy2HvDKQ63srLbZwhCpc71IytZHsv+H0zLQh5ZDLw+xAzwczkwhtLejV1TR+n5V38lzQtDfIQVODg+zGz2foemHgyImp9pJ56Iq4MMwWeWpe3mH9ClQOY2\/OiTIJTvnSSZkMEQ1a8Sifi1q+9V432+znabl5skScabnPE+RH4whoZCBocfeR9pa+RxgPIRQLB8gRpdQTQCywVqhmwNuF3bx2aQqZJoAWVmFjCyc8Nf+bfQ5mPP7I+vWjRj6Z5O76AgnLp7ENqBN\/CNNwZEzukmPbEWFXkuFNhdQyt0KI\/FtDY6JB6PfkmYEIArwbsttE6N3HOBMG4rjPbw96nZIbkDOSsP9BMuFdAqmjMeYE3Dyn82IdDXMp8zhEBShGH6twdVBzihblLj2cJQZhEgON9KhrOu39yyhSx16+G\/O\/DTr6leowcPAs6cjHDSKZZZugcAHZ23PXjDe5yJqvX7f6qU4AQ2TF28HcJtqOiPU5L5sZ3Ym8+BBXjHeAsvsW4V9qug7YFNPwjBVHYuUI2s5usPErcepQJw7eSA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