China Enters Online Luxury Goods Market

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Chinese firm Sun Media Investment Holdings Limited and European company LUXE.TV announced a partnership today to create an online platform that will allow viewers to purchase luxury goods on the Internet. “LUXE.TV Interactive” will use Sun Media’s technology to develop the first IPTV luxury goods shopping channel in China, which will launch in the second half of 2006. It is expected that the online model will be expanded globally.

Bruno Wu, Chairman of Sun Media, said in a press statement, ”The Chinese market is ready for the LUXE. TV concept. In the course of the next 10 years, China is expected to be the world-largest market for luxury goods. At the same time, we anticipate exponential growth in broadband internet usage. Today, more than 30 million households already have access to broadband internet connectivity.”

LUXE.TV is the first international TV network dedicated exclusively to the luxury world. The partnership between Sun Media and LUXE.TV will also offer LUXE.TV programs to broadcasters and other media companies in China.

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