By  on April 25, 2019

LONDON — Upper-middle income Chinese consumers are poised to spend, spend, spend in the coming years, and are already being targeted by the big fashion and luxury houses, according to a new report by McKinsey set for release this week.

The latest edition of the McKinsey China luxury report, which will be published on Friday, said Chinese consumers will account for 40 percent of the world’s luxury spending by 2025, and will be a major contributor to growth in the sector over the next six years. The last edition was published in 2016.

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