I know what you’re thinking.  Why the hell would China bother buying bona fide luxury goods when they normally just counterfeit it all?  Beats me, but it’s reported that Gucci, hot on the heels of a new Shanghai store a couple of days ago (its 28th in China), claims to be planning to take the total to 40 in the near future due to expansion of the luxury market in the country.  Japan, on the other hand, is turning its back on luxury goods, and instead concentrating on taking more tourist photos and Pokemon.  Read more after the jump.

China is bucking the trend of recession-austerity, and whilst it’s $8 billion luxury market accounts for only 3% of global sales (compared with 38 percent in Europe, 33 percent in South and North America and 12 percent in Japan), it is considered, along with Brazil to be the fastest two growing luxury markets through 2012.

Gucci has 70 stores in Europe, and 50 in Japan.

But it seems that Japan, once a huge consumer per capita of luxury goods is turning its back on the expensive and prestigious for more competitively priced products and leisure activities.  Greater consumer savviness and a gargantuan recession are blamed for the downturn in the market.  It was once known as the world’s “only mass luxury market” apparently, although I have difficulty rationalising that statement – I might have to get Kate from The Apprentice to help me on that one.