BY MARIETTA CAUCHI

Luxury fashion houses are looking East—hoping to lure investors willing to pay up to buy into an Asian-listed designer brand.

Asia’s appetite for luxury goods shows few signs of abating, with watches, jewels, designer bags, shoes and high fashion clothes being lapped up by consumers in the Far East.

In the past few months, U.K. luxury clothing retailer Burberry PLC said its yearly earnings soared 39%, boosted by sales to Chinese shoppers at home and abroad, while Italian jeweler Bulgari SpA swung to a first-quarter net profit as Chinese sales surged

With this demand driving the revenue of European and …