Cartier recently opened its first store in Jiangxi province at Nanchang Wushang Mall, offering a full range of jewelry and watches. Local consumers expressed excitement, viewing it as recognition of the city’s high-end consumption potential. Despite being a blank spot for luxury brands, Jiangxi is now attracting interest, though many brands remain cautious about rapid expansion due to cooling industry conditions. In 2024, LVMH’s Q1 revenue fell by 2%, and Cartier’s parent company Richemont saw a 1% decline. As luxury brands focus on stability, they are prioritizing expansions in major cities’ landmark shopping centers. However, they continue to open new stores in select non-first-tier cities, targeting high-net-worth individuals rather than the broader middle class.