China is the world's third biggest market for personal luxury goods, worth at least US$25bil. In the next three years, it is expected to leapfrog over Japan and the United States to take the top spot, with the luxury segment expanding to US$28bil. As it grows, the market is also maturing, moving from so-called aspirational luxury, where bling is king, to what experts call absolute luxury: the desire to be seen as both wealthy and discerning.
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