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Longchamp consider expanding French companies in China

The luxury handbag manufacturer Longchamp be a significant expansion in China, despite the slowdown in economic growth in the country, said its CEO on Wednesday opened a new store in Hong Kong.

The brand, owned by the family for 64 years, is known for its colorful foldable nylon and leather designer handbags. The company said optimistically the Asian market, especially China, the European economy - its main market - is still "unfavorable".

"We will not slow down our expansion plans, particularly in Asia," Agence France-Presse said, the grandson of the founder and CEO Jean Cassegrain.

The latter said he had no fears in China, said: "The purchasing power of Chinese consumers is increasing, and this will not change, even if the economic downturn in major Asian countries.

The 400-square-foot store is the second mégaboutique in Longchamp in Hong Kong, one of Kowloon's busiest commercial cities in Chinese tourists flock to pay crazy to buy luxury goods.

Cassegrain said Longchamp Mr. consider increasing its presence to 50 stores today (seven stores) in mainland China, including Beijing and Shanghai, but he is no specific timetable.

"The challenge is to choose the right place," he said, Longchamp has appointed the popular Chinese actress Gao Yuanyuan as ambassadors to raise brand in the file, in the region.

Last year registered Longchamp turnover of 390 million euros ($ 507 million), an increase of 22% compared to the same period last year.

By 2017, China will become the second largest market in the world of luxury, second only to the U.S., more than France, Britain, Italy and Japan, according to Euromonitor report, a group of consumer research, published in this month.