The global luxury market is scrambling to reconnect with young shoppers after shrinking last year, for the first time since 2009. Luxury experts are calling Chinese consumers “the linchpin in the global luxury market,” and emphasizing the importance of reaching Millennials by making the purchase of a luxury item an “experience.” Since Chinese Millennials are buying diamonds as status symbols rather than symbols of marriage, attracting the powerful demo to purchase luxury goods shouldn’t be a stretch. (CNBC)
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