By  on May 26, 2009

HONG KONG — “China will be the number-one economic power in the world within 30 years, and Louis Vuitton is the number-one luxury brand in the world, so there is a lot of potential in the region,” said Bernard Arnault, chairman and chief executive of LVMH Moët Hennessy Louis Vuitton.

Arnault was explaining the reason Louis Vuitton was participating in the city’s annual Le French May arts festival. He said the decision was “both simple and logical” given Hong Kong’s position as the gateway for an ever-more powerful region. To illustrate the point, Vuitton will open its 28th store in Mainland China this week, in Wuxi.

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