Commenting on the recent news that French luxury goods company LVMH is taking a 3% stake in the initial public offering of Belle International Holdings Ltd, a Chinese distributor of premium footwear, chairman of China Premium Lifestyle Enterprise Richard Lee said, “I am very encouraged by this news, which confirms international recognition of the value growth we are seeing in the market for premium products in Greater China.” He added, “Clearly, the fact that one of the world’s top luxury products distributors sees value in a relatively low profile sector of the premium products business in China reflects well on the future of this sector.”