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Today Chinese shoppers account for 30% of all sales of personal luxury goods. While Bain foresees the Chinese market improving again after contracting slightly in 2016 , it isnt likely to return to its former rate of expansion, which insulated brands bottom lines from other problems. We expect around 30 million new customers in the next five years coming from the Chinese middle class, Claudia DArpizio, a Bain partner and lead luxury analyst, told Quartz in an interview last year. But this is nothing comparable to the past big waves of demographics entering [the market]. This new normality will mean mainly trying to grow organically in the same consumer base, being more innovative with product, more innovative with communication. Exane BNP Paribas echoed the thought in a December research note to clients. The peak of the largest nationality wave ever to benefit luxury goods is behind us, the authors wrote. Brands need a new paradigm, other than opening more stores in China and bumping up prices. You probably know to ask yourself, What do I want? Heres a way better question The period luxury is entering could see some of its slowest growth since it started opening up to a mass audience around 1994. That was the year, DArpizio noted, that the jeweler of kings and queens, Cartier, launched its first lower-priced line for mainstream consumers. Other brands followed in search of greater sales, and names like Gucci, Prada, also Bulgari were really growing, doubling size every year, sometimes triple-digit growth rates, opening up to 60 stores every year and covering all the capitals across the globe, she said. View photos Global market for personal luxury goods, 1994-2016 More Around 2001 came another period of expansion when brands became global retailers, not just selling wholesale, amid a spate of acquisitions that would eventually create todays giant luxury conglomerates, including LVMH and Kering (previously Gucci Group). By the time of the financial crisis, luxury had conquered much of the US, Europe, and Japan, and then China came along to offer more unfettered growth.

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Those changing habits are fueling the investment by retailers in building out omni-channel services that provide seamless customer experiences both online and offline. Fabletics joins a growing list of e-commerce sites that are looking to expand or introduce brick-and-mortar locations. Those sites include Birchbox, Casper, and Bonobos. Rent the Runway, an e-commerce startup famous for its high-end dress rental service, announced earlier this week that it would use funding from a new financing round to help it expand brick-and-mortar locations after it signed a deal to open showrooms in Neiman Marcus store locations. The biggest e-commerce player of all, Amazon, also hinted at its brick-and-mortar ambitions when it opened up a convenience store in Seattle earlier this year that featured no cashiers or checkout lines. Traditional brick-and-mortar retailers will continue to expand their online efforts as online retailers look to build out robust brick-and-mortar operations. This trend will also be driven by the small share of overall retail sales coming from e-commerce. Consumers still do the vast majority of their shopping at brick-and-mortar locations for a variety of reasons, so online retailers want a piece of that market. Meanwhile, legacy brick-and-mortar retailers want to tap into the rapid growth happening in e-commerce as brick-and-mortar sales face sluggish growth. Luxury shoppers are highly coveted customers for brands and retailers, so it would behoove companies to provide a positive customer service experience in order to strengthen brand loyalty.

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20. Last month, leaders of both houses introduced bills to protect undocumented immigrants from anticipated efforts by a Trump administration to increase deportations. In addition, Democratic Governor Jerry Brown has made combating climate change a priority for the state. "Mr. Holder and his team will serve as outside counsel to the Legislature, advising us in our efforts to resist any attempts to roll back the progress California has made," Kevin de Leon, the Democratic leader of the state Senate, said in a statement. A representative from de Leon's office could not immediately be reached for comment. Holder served as attorney general under President Barack Obama from 2009 to 2015. He is a partner in the law firm of Covington & Burling, which represents companies and helps them navigate government regulations. "I am honored that the Legislature chose Covington to serve as its legal adviser as it considers how to respond to potential changes in federal law that could impact California's residents and policy priorities," Holder said in a statement.