Italian luxury brand Coccinelle is to open three new flagship stores in China this year.

The handbag and leathergoods company plans to take its China store count to 70 by 2017, believing that demand for luxury goods will continue to grow in line with increasing disposable income.

The Parma-based company posted first-quarter sales of EUR18 billion. At the end of the first quarter, Coccinelle owned 91 own-brand boutiques and also sold its products at 1,100 multi-brand shops worldwide.

In addition to expansion in China, the company is looking to increase its store count in Europe, with emphasis on Italy, Germany and Russia.

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