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Luxury in China

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Luxury in China
Take an in-depth look at the Chinese luxury market
Shoppers queue outside a Dior boutique on Canton Road in Tsim Sha Tsui, Hong Kong, in 2024. The luxury market has cooled down recently, but is predicted to make a comeback by 2030. Photo: Jelly Tse
Luxury brands

Self-expression, experiences, resale: what luxury clients really want

A new McKinsey and Business of Fashion report reveals how aspirational spending, emotional connection and experience are reshaping the luxury sector.

Fashion

Max Mara’s cruise 2027 show in Shanghai’s Long Museum

Fashion

Gildo Zegna on the past and future of his family’s menswear label – interview

China consumption

China’s luxury spending seen boosting global sales in 2026 despite headwinds

Affluent Chinese consumers are expected to splurge, though a volatile property market and oil price shocks pose challenges, analysts say.

A huge, ship-shaped Louis Vuitton cultural and retail landmark is seen in Shanghai. China’s luxury spending is expected to help drive a global rebound this year. Photo: Getty Images
Chow Tai Fook

Bling it on: Chow Tai Fook’s US$115,000 gold AirPods case sparks online buzz

Gold gadgets and hair clips ignite discussion online as the jeweller looks to the ultra-rich to set the gold standard for luxury spending.

Style Edit

Style Edit: Delvaux CEO Jean-Marc Loubier on the new K11 Musea flagship

The former LVMH executive has always been invested in Asia – and the new Hong Kong store is a testament to this.

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Fashion

In conversation: Bohan Qiu and Ian Hylton on Chinese luxury fashion

Hylton is known for his eponymous label as well as his work on the brand Ms Min, while Qiu is the founder of Shanghai PR agency Boh Project.

Bohan Qiu (left) and Ian Hylton at the latter’s in-house residency at Rosewood Hong Kong’s Beaureguards boutique. Photo: Alexander Mak
Fashion

How Moncler’s Remo Ruffini transformed the brand into a luxury powerhouse

Known for its A-list collaborations, the brand has worked with everyone from A$AP Rocky and Pharrell Williams, to Jonathan Anderson and Rick Owens.

Mainland China

As LVMH returns to growth, is the slump in China’s luxury market finally over?

LVMH saw its sales in China rise in the second half of 2025, as the vast Chinese luxury market shows signs of recovery.

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China consumption

China’s consumers refuse to open their wallets. Is ‘luxury-phobia’ the problem?

Chinese households are not splashing out on luxury goods partly because they feel ‘stigmatised’ for doing so, scholar argues.

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A Labubu toy hangs from a consumer’s Hermes bag in Beijing. To get consumers spending, China should not stigmatise the pursuit of luxury goods, a professor at Peking University has argued. Photo: Beijing
China’s private sector

Changing tastes: China’s new affluent consumers seek quality not extravagance

Rise of upper middle class reshapes China’s retail market, driving demand for quality goods and creating a battleground for global brands.

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The success of US retailer Sam’s Club in China is attributed to its “premium-value” offering sought by upper-middle-income consumers. Photo: Eugene Lee
China economy

Opinion | How China’s home-grown luxury labels took on Western brands

Chinese brands are gaining ground at home and worldwide as domestic consumers increasingly turn to labels with Chinese imagery and values.

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Aerospace: Geopolitics

Why are rich Chinese moving private jets offshore, slumming it in budget seats?

Strict flight rules and economic headwinds are forcing scrutiny-wary tycoons to rebase aircraft in places such as Singapore or downgrade to commercial cabins.

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Art

Big 3 auction houses report uptick in 2025 sales, but Asia still lagging

Sotheby’s, Christie’s and Phillips report combined projected total revenue of US$14.1 billion for 2025 as the US leads the way.

Mexican artist Frida Kahlo’s 1940 work El sueño (La cama) sells at Sotheby’s new home at the Breuer in New York for US$54.7 million including fees on November 20, 2025. Photo: Julian Cassady
Luxury brands

Why global luxury brands are switching to shopping streets in China

Luxury giants are transforming China’s retail scene, blending culture, cuisine and shopping in vibrant street-level destinations.

Stand-alone flagship stores with distinctive architectural facades are gradually gaining traction in China. Above, Beijing’s Taikoo Li Sanlitun North. Photo: Zhu Wenqian
China consumption

From taboo to trendy: China’s second-hand luxury market cashes in on resale boom

Driven by an uneven recovery and property crisis, value-conscious shoppers are powering a second-hand boom as platforms use tech to verify authenticity and overcome stigma.

Gold in Hong Kong

How Chinese jeweller Laopu Gold has become a luxury phenomenon

Blending tradition with marketing savvy, the brand is luring young, cost-conscious buyers despite a sluggish market and soaring gold prices.

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China exports

Losing its sparkle? How Chinese artificial gems are upending the diamond market

China has pioneered the production of flawless artificial diamonds. Some worry they are eroding demand for the real thing.

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Illustration: Henry Wong
Banking & finance

Would you like a handbag with that latte? Luxury brands in China think so

Can international fashion and luxury groups counter a sales decline by opening coffee shops in major cities?

Louis Vuitton

Louis Vuitton’s upcoming store at K11 Musea in Hong Kong

Luxury brands around the world have been ramping up investment in lifestyle concepts – and Louis Vuitton is no exception.

China consumption

Why China’s luxury hotels are selling street food to survive

High-end hotels ditch banquets for fried rice amid weak consumption and tighter controls on lavish official spending.

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Zhongwu Hotel street vendor in Changzhou, Jiangsu province, China, on July 3, 2025. Photo: Handout
China economy

Luxury labels ditch steep China discounts to rebuild value

Balenciaga, Versace, Valentino and peers change tack to convey exclusivity, attract resilient spending of wealthy buyers.

People talk near a Blancpain luxury watch store in Beijing on May 5, 2025. Photo: AFP
Banking & finance

Louis Vuitton, Gucci owners face tough times in China amid trade war, property slump

Chinese consumers’ spending on luxury goods has been affected by falling property prices and uncertainties over the trade war, analyst says.

Banking & finance

Gucci, Prada close more China outlets as luxury spending shrinks

Store closures are also hurting mall owners and undermining projections for an end to the multi-year property market slump.

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Banking & finance

Laopu Gold jewellery sells like hot cakes despite tepid China consumer spending

Fans of Laopu Gold say they like its ‘fixed price’ model and intricate craftsmanship.

Shoppers in an outdoor mall in Beijing. Photo: AP
Retailing

Bulgari banks on Chinese consumers to fuel luxury growth as economy improves

The Italian fashion brand in the LVMH stable bets on a recovery in the next two years with a plan to open more mainland stores.

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Bulgari goods on display at the China International Import Expo in Shanghai. Photo: LVMH
Consumers

Why China consumers are not splurging on LVMH, Burberry, Kering luxury goods

Waning confidence among China’s middle class consumers could further undermine sales of global luxury brands, analysts say.

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China economy

Breitling CEO ‘quite confident’ luxury’s China-led slowdown has hit bottom

The Swiss watchmaker sees India as a bright spot thanks to improving distribution infrastructure and new shopping centres.

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