Big brands cash in on China's bling obsession

09:50, April 04, 2011      

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Private jets, elite villas, vintage wines, one-of-a-kind jewelry, and glittering watches set with colored diamonds are transforming the Chinese beach resort into a luxury hot-spot.

In Sanya City, south China's Hainan Province, a four-day event, the Hainan Rende-zvous, which kicked off on April 1, is providing Chinese luxury-hungry consumers an intimate interacting with world-class showoffs from 195 companies.

Having been flirting with the idea of owning a yacht for almost two years, a businessman, surnamed Chen, flew all the way from eastern Zhejiang Province hunting for the vessel in his dream at the Hainan Rendezvous.

A yacht priced at three million yuan (458,106.2 U.S. Dollars) caught Chen's eye.

"The price is reasonable enough for me and, more importantly, I really love the design," said Chen, excited.

A window displaying a Chopard necklace with more than 3,000 diamonds was wowing the visitors with its dazzling glamour and extremely high price.

Zhang Zhiyuan, shopkeeper of the Chopard Beijing department store, said the Swiss manufacturer has shipped 200 million yuan worth of watches and jewelry from Europe for this show.

"The sales far exceeded our expectation. We have received hundreds of customers in the last two days and some items, such as sun glasses and watches, sold very well." Zhang said.


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