China Luxury Market

China’s luxury market up 12% YoY in 2023

However, it has not yet fully recovered to 2021 levels.

China’s luxury market up 12% YoY in 2023

However, it has not yet fully recovered to 2021 levels.

Gen Zs are becoming China’s biggest spenders

21% of these consumers are ready to spend 16% of their income on luxury.

Luxury sales in China to rebound to 2021 levels this year

This comes after the luxury market contracted in 2022. 

China’s luxury market sees more ‘Very Important Clients’ despite 2022 contraction

VIC sales were higher than the 40% global average, Bain & Company reported. 

China’s luxury market contracts by 10% in 2022

This is the first time the market shrunk in the last five years. 

What could make shoppers switch to another luxury brand

Chinese consumers give emphasis on whether the brand is aligned with their identity. 

China captures luxury brands despite headwinds: report

The luxury retail market will likely grow 6.1% and 6% in 2023 and 2024, respectively. 

Is Gen Z becoming the bigger spender in China?

They are rapidly becoming the largest consumer base for luxury brands, KPMG said.

Luxury market’s last quarter growth hinges on China’s reopening

It will also be boosted by consumer confidence in Europe and America.

LVMH posts 23% profit growth amidst CN business disruptions

Lower revenues were seen in Asia due to lockdowns in China.

Mytheresa picks Steven Xu as president in China and APAC

He previously served as an executive for Ralph Lauren.

Chow Tai Fook Jewellery shines as profit grows 11% in 2022

Profit rose to HK$6.71b during the year ended March 2022.

China dampens Pandora’s 2021 performance: report

And yet, the market remains high up Pandora's priorities.

Cettire enters China’s online luxury market

Cettire will be available to Chinese consumers in the second half of the year.  

Trends that will shape China’s luxury market

China is becoming the world’s largest luxury good market by 2025.

China on track to become world’s largest luxury market by 2025

This is even as its luxury goods demand is seen to have moderate growth.