When Bernard Arnault, one of the world¡¯s richest men and chairman of LVMH, dropped by Shanghai in September, many assumed his itinerary would be routine: check in on Louis Vuitton, Dior, and the rest of his empire¡¯s boutiques in China¡¯s most prestigious malls. But instead, Arnault did something unexpected.
He went shopping for Chinese brands.
At the new-age luxury shopping mall Qiantan Taikoo Li in Shanghai, Arnault stopped by Songmont, a minimalist leather goods label. There, he bought two handbags, according to people familiar with the situation who asked not to be named discussing a private matter.
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