China - World's Largest Luxury Good by 2020?

This caught my eye in an article about Burberry in China:

China is set to become the world's largest market for luxury goods by 2020, when sales are expected to exceed $100 billion, according to investment-research group CLSA Asia-Pacific Markets

Burberry also believes that China will become its largest market within 5 years.



Burberry Stores in China Get Digital Makeover  - WSJ