The ban targets one of the world’s largest textile manufacturers, forcing fashion brands to review their supply chains.
Hainan’s duty-free market faced a 29% sales drop in 2024 due to fewer tourists and overseas competition.
Luxury brands faced greater scrutiny in 2024, with customer clashes, celebrity controversies, and cultural insensitivity underscoring the need for adaptability.
China’s luxury market in 2024 faced a significant slowdown driven by economic stagnation, a real estate crisis, and rising outbound shopping.
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