China’s luxury market is undergoing a shift as the post-Covid boost fades, with analysts urging brands to focus on innovation and lower-tier city expansion.
Richemont, owner of Cartier and Chloé, reported strong overall performance in Q4, despite weaker demand in China.
Despite Moutai’s projected 15% revenue growth, the luxury spirits industry grapples with price declines, changing tastes, and trade tensions.
China’s luxury market in 2024 faced a significant slowdown driven by economic stagnation, a real estate crisis, and rising outbound shopping.
Unlock access to our Intel Dispatch
Kendall Jenner rocks Mo&Co’s Noir collection as new brand rep
Mac taps Jolin Tsai as global ambassador
F1’s Zhou Guanyu headlines Lululemon’s Shanghai fitness event
Hong Kong retail sales continue decline, dropping 9.7% in June
Hugo Boss misses Q2 expectations, struggles in China
Crocs posts 70% revenue surge in China
Canada Goose reports strong Apac growth, led by China
IWC Schaffhausen unveils exhibition at Chengdu IFS
Casetify unveils ‘Love Blossoms’ Qixi collection
South Korean online shoppers fuel 64.8% surge in Chinese imports
Bally showcases Fall/Winter collection in Beijing
Li Auto smashes delivery record with 51,000 cars in July
Get more news based on your interests
