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In a confidential report titled "China Luxury Market study 2010" in November 2010, the management consulting firm Bain & Company noted the top three luxury brands in China are []], Chanel and Gucci. According to the report, watches and bags led the growth of the luxury market in 2010.
Just a few years ago, China was the darling of luxe spending; from 2017 to 2021, the luxury market in the country tripled in size. Shoppers were obsessed with conspicuous consumption, and China ...
LONDON — As China’s major commercial property developers release their 2020 full-year and interim results, a post-pandemic luxury retail heatmap begins to emerge. In mainland China, with ...
Consumers in China, the online channel and the younger generations are expected to be the main growth drivers of personal luxury goods, forecast to reach sales of between 330 billion and 370 ...
MILAN — The appetite of China and Chinese nationals for luxury, which remains “insatiable,” together with a “robust” online business and the “unexpected” rebound of the U.S. market ...
China will consume half the global market value of luxury goods. [20] [21] Consolidation: Consolidation involves the growth of big companies and ownership of brands across many segments of luxury products. Examples include Kering, LVMH, and Richemont, which dominate the market in areas ranging from luxury drinks to fashion and cosmetics. [22]
China's consumers have been reluctant to spend in recent months, even as their disposable incomes have grown. Retail sales grew just 2.1% last month from a year before, coming in below economists ...
With the coronavirus pandemic having sent most of the world's luxury spending into a tailspin and China the only major economy expected to show growth this year, high-end brands now depend more ...