Luxury selling well despite harder times

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Melbourne Business School’s Mark Crosby says that it makes sense for luxury brands to expand into Australia as they are cheaper for tourists to buy here than in China. “There are very heavy luxury taxes in China,” he says. “In Shanghai or Beijing, prices are a lot more expensive for pretty much everything than what you’d find here or outside. So a lot of people from mainland China go to Hong Kong and other places to shop.”

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