"The growing number of rich people in China Prom Dresses the growing need for luxurious, branded fashion goods in the country," says Li Shujun, founder of Trustbridge Partners, a venture capital investment company.Last year China overtook the United States to become the world's second-largest luxury market, accounting for 27.5 percent of total global sales. Li's firm has worked with Shanghai-based Eve NY, the company that produces and distributes Badgley Mischka Blue Short Strapless Bubble Prom Dress China, and two other local investment funds to buy perpetual rights to use the trademark in China from Iconix, the holding company of Badgley Mischka. They spent about 100 million yuan (US$14,971).

An example of a consumer with a big appetite for luxury - but not the knowledge to match - is 27-year-old Shanghai shopper Shen Fei, looking for a dress to wear to a wedding. At the newly Blue Short Strapless Tulle Prom Dress Hong Kong Plaza on Huaihai Road M., her eye is caught by the glittering two-story flagship store of Badgley Mischka - and fancy, beaded evening gowns and cocktail dresses inside. An evening dress costs more than 10,000 yuan (US$1,466). She has never heard of the brand but the store is right next to Cartier and Tiffany in the same mall - so it should be one of the best.

The salesman confirms her choice: Badgley Mischka is a top American designer label chosen by countless Hollywood celebrities for red carpet occasions. Thrilled, Shen picks up two dresses to try on. What Blue Strapless Chiffon Cocktail Dress doesn't know is that the dresses she holds are not exactly the same as those worn by the stars - they are actually made in China. She is one of many people willing to spend a fortune on luxury goods, even if they know little about them.