What’s Behind Japan’s Luxury Boom?

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At a recent Singapore retail convention, an Australian financier recounted how his wife spent her time on a trip to Tokyo. Speaking privately on the sidelines of the event, he revealed that she didn’t spend a single minute sightseeing in the city because she was laser-focused on buying a haul of luxury goods. By taking advantage of highly favourable exchange rates, she found that it was cheaper to purchase a plane ticket from Melbourne to Tokyo and buy the items from major French houses in Japan than it was to shop at the brands’ Australian boutiques.