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.
Get more news based on your interests
