China

03 Jul, 24

Hermès, Chanel, LV hike prices in China despite economic headwinds

Luxury brands are strategically raising their prices in China amid slowing economic growth. But with priorities changing, how are consumers reacting? Amid a slowing economy, plummeting consumer confidence, rising unemployment, and deflation, a handful of luxury brands have been raising their prices in China. French leather goods and fashion brand Hermès raised its retail prices in the […]
Read more
03 Jul, 24

Yes to quiet luxury, Paris and Hong Kong — China’s millionaires have spoken

Post-pandemic, China’s affluent prefer Hong Kong and France for luxury shopping, valuing exclusive experiences and limited-edition items. What happened Hong Kong and France have emerged as the top post-pandemic shopping destinations for China’s millionaire travelers, according to a new survey by Agility Research and Strategy. A survey of 2,000 affluent and high-net-worth individuals (HNWIs), conducted by Agility’s TrendLens […]
Read more
03 Jul, 24

Why China could become the luxury industry’s next sore spot

SHANGHAI/PARIS, July 19 (Reuters) – The luxury goods industry has relied heavily on China and North America for growth in recent years, but latest Chinese economic figures and a disappointing sales update from Cartier-owner Richemont suggest both markets may be starting to slow. Major luxury brands have invested millions to reach new customers in the two […]
Read more
14 Jul, 23

From London to Paris: Where are all the Chinese tourists this summer?

China’s long-awaited reopening following the Covid-19 pandemic has raised a puzzling question: Where are the crowds of Chinese tourists in Europe? While data reveals a cautious return to travel among Chinese nationals, there are signs of gradual recovery across European destinations. According to travel data firm ForwardKeys, the number of Chinese travelers to Europe during the recent […]
Read more