Luxury brand ownership on rise in Asia

Luxury brand ownership on rise in Asia

By Robin Kwong in Hong Kong

Published: April 29 2008 18:25 | Last updated: April 29 2008 18:25

High-profile luxury brands from Europe and the US have for years relied on little-known companies such as DKSH, Fairton, Xinyu Hengdeli and Peace Mark to get their products into the hands of Asian consumers.

Now these distributors are seeking to move up the value chain by acquiring brands themselves, rather than just distribution rights. They aim to capture a bigger slice of the rapidly expanding Asian luxury market at a time when the economic downturn is expected to hit the sector’s sales in Europe and the US.