BEIJING, CHINA - JUNE 11: A Chinese man walks into the Burberry flagship store on June 11, 2012 in Beijing, China. According to the World Luxury Association 2011 annual official report , China is ... more 
BEIJING, CHINA - JUNE 11: A Chinese man walks into the Burberry flagship store on June 11, 2012 in Beijing, China. According to the World Luxury Association 2011 annual official report , China is expected to replace Japan as the world's top consumer of luxury goods by 2012 with an expected luxury goods sales value of 14.6 billion U.S. dollars due to China's growing demand and declining consumption in Japan. (Photo by Feng Li/Getty Images) less 
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Getty Images | Photo By Feng Li / Getty Images
Mon, Jun 11, 2012 4:05 PM EDT