What happened: As Lunar New Year approaches, luxury brands are going all out to boost revenue during China’s most important festival of the year. Louis Vuitton is the latest to join the jamboree; this week, the label unveiled five colossal dragon installations at its flagships and pop-ups in Beijing, Shanghai, and Chengdu.
The gilded dragons were crafted individually by artisans in China, incorporating design elements from Pharrell Williams' inaugural pre-fall 2024 menswear collection, which was showcased to a star-studded audience in Hong Kong last November.
According to Louis Vuitton, the sculptures are part of a localized campaign to attract Lunar New Year shoppers. They will be in place for one to three months, depending on the location.
The Jing Take: Despite recent shifts in consumer spending habits in China, the Lunar New Year holiday, which this year will run from February 10 to 17, remains one of the most lucrative holidays across the mainland for brands and retailers, with many citizens gifting and splurging to mark the occasion.
According to data from the National Taxation Administration, retail sales during Chinese New Year 2023, which ran from January 21 to 27, increased more than 12 percent compared to 2022.
The significant uptick in spending last year hasn’t gone unnoticed. This year, luxury competitors are rushing to roll out holiday-centric initiatives to get a headstart. For instance, Loewe released a new jewelry capsule collection on January 4, in collaboration with Chinese jade carvers Xiaojin Yin, Lei Cheng, and Qijing Qiu, while Mulberry teamed up with designer Mira Mikati to reimagine the Year of the Dragon.
As for Louis Vuitton, the brand has consistently demonstrated its confidence in the Chinese market over the past year, from hosting a menswear show in Hong Kong to appointing domestic stars like actor Dylan Wang as ambassadors. This latest project marks another chapter in the maison’s China playbook.
With more luxury brands pivoting to Asia, European brands are attempting to balance localization, cultural appreciation, and potential appropriation.
In Louis Vuitton’s case, feedback has largely been positive from netizens on Xiaohongshu; some commentators have commended the French house for raising the stakes with this spectacle.
“From what we can see with LV’s dragon presentation, they have shown a deep respect for Chinese culture while incorporating the brand’s distinct characteristics and totems,” user @Boerte wrote.
Others were unconvinced, criticizing the initiative as another marketing ploy that lacks aesthetic “romance.”
“To be honest, it’s a bit scary. These top luxury brands have more localization work to do to really understand Chinese aesthetics and the meaning of romance,” Xiaohongshu user @hongchenbaiduren wrote.
Overall, Louis Vuitton has made a strong attempt at impressing Chinese consumers. Through its refined artisanal flair and immersive experiential elements, the house is winning points across the mainland — notably during a period when the retail scene is more competitive than the rest of the year.
The 'Jing Take' reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.