Deloitte: China’s Luxury Price Gap Remains Wide

(jingdaily.com) - Despite efforts by China’s government and luxury brands to quell the country’s gargantuan daigou trade, Chinese shoppers in the market for a Louis Vuitton bag or Balenciaga dress can still save hundreds of dollars by buying in London or Paris instead of Shanghai. Luxury brands have long been grappling with the gray market in China created by the significantly higher cost of imported goods brought on by tariffs. Many have adjusted their prices in China to harmonize them with the global average, including Chanel, Cartier, Burberry, Patek Philippe, TAG Heuer, and Louis Vuitton.