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China will account for 45pc of global luxury sales by 2025

Tmall Collection 2017 Global Fashion Show. Image courtesy of Alibaba Any retailer with the capacity should be expanding into China. Image courtesy of Alibaba

 

NEW YORK – In just the past few years, China has evolved from being the “factory of the world” to the consumer of the world, according to an executive from Chinese ecommerce giant Alibaba.