According to Ong, luxury retail demand is expected to grow in China. Globally, Chinese consumers account for about 33% of luxury spending. And pre-2019, the Chinese have taken a lot their spending abroad, due to lofty taxes imposed on luxury items.
SINGAPORE (Apr 23): Following a site visit to Sasseur REIT’s outlet malls – Chongqing mall and Hefei mall – during their annual Spring sale, the REIT has attracted the attention of Phillip Capital.
In an unrated report on Monday, analyst Natalie Ong says, “Sasseur’s outlet malls not only offer large discounts on branded goods targeted at the middle class, brand-conscious consumer, but also incorporate numerous activities and entertainment programmes to engage different age group.”
