Exclusivity the name of the game as luxury firms target China’s wealthiest for growth

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Reuters UK

By Casey Hall and Mimosa Spencer SHANGHAI/PARIS (Reuters) – The world’s biggest luxury brands seeking growth in their second-largest market China are all courting the likes of wealthy entrepreneur Diana Wang. Shanghai-based Wang, an investor who also owns a namesake fashion label, is an avid collector of fine jewellery who regularly shops at Cartier, Tiffany and Chopard, among others. She is also what luxury companies call a VIC, or very important client, a segment of the market they are increasingly targeting as China’s post-pandemic economic slowdown dries up the spending power of the once-a…

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