Since 2010 Ralph Lauren has been retooling its China strategy to rehabilitate its brand image and take advantage of the country's fast-growing apparel market.

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

Coming off a tougher 2012 in China, this week Chow Yun Fat-fronted German fashion house Hugo Boss launched its official Chinese online store.

Accompanying the rise (and rise) of overseas travel among wealthy Chinese has been an increase in the number of travel sites offering exclusive tour packages.

A new report holds that Chinese consumers spent a relatively spare US$830 million on luxury items domestically from January 20 - February 20, a 53 percent drop from last year's spending spree, but a whopping $8.5 billion overseas during that same period.