Ferragamo will bring its European prices to Chinese levels
17/06/2014
Chief executive, Michele Norsa, recently told business media outlet Bloomberg that China represents the brand’s greatest prospect for growth and that it wants to stop Chinese consumers from travelling to Europe to buy Ferragamo goods at lower prices.
Prices of luxury goods are typically as much as 20% higher in China, which brands have justified by pointing out that distribution costs are higher there. And if Chinese shoppers buy the same goods during visits to Europe, they can add to the savings by claiming back value added tax.
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