Originally announced in 2011, the China expansion efforts of Hong Kong-based luxury department store Lane Crawford are set to gain pace with the opening of two new stores in Shanghai and Chengdu by the end of this year.

Having already reshaped the global luxury tourism and hotel market in their own particular way, China's growing legion of outbound tourists is set to grow far larger in the next several years.

Brands the world over are clearly after the emerging Chinese consumer, particularly in the luxury industry, where flat domestic sales in Europe are being propped up by big-spending Chinese tourist-shoppers.

American designer Rebecca Minkoff certainly knows where the balance of power lies in the global luxury market.

Helped by a growing number of Chinese luxury consumers moving towards more classic or understated items, this week Hermès reported that sales in China rose 30 percent in 2012.

Whisky makers and cashmere labels, golf evangelists and salmon salesmen aren't the only ones angling to get a bigger piece of the China market.

Aimed at stemming the flow of Chinese tourist-shoppers abroad, the pilot duty-free program launched by the Chinese government in Sanya two years ago is about to get a whole lot bigger.

The concept of Swiss quality has resonated with many wealthy Chinese, who are now looking at long-term investments in many aspects of the country.

While luxury brands continue to chase the Chinese big spender wherever he or she may be, Chow Tai Fook is recording strong sales driven by a distinctly less well-off demographic: young consumers.

Despite a top-notch team and clear market opportunity and absent a clear brand narrative, Luxup's prospects remain somewhat murky.