Italy's luxury sector eyes China with hope, fear

Newswire

By Jane Barrett MILAN, Nov 18 (Reuters) - Big Italian luxury brands are gleefully opening stores in China to lure the booming economy's newly rich and are racing to ensure their goods are "must haves" for the fresh big spenders. But smaller firms tremble at the cheaper products flooding out of China, fearing they will be put out of business by new rivals with lower labour costs and a weak, export-boosting currency. "China is both an opportunity and a danger," said Mario Boselli, the ...

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