• China's luxury market shrank 10 percent in 2022

    1 month ago - By Fashion United

    Image: Dior pop-up in China, via Dior
    China's luxury market contracted 10 percent in 2022, according to insights published by consultancy firm Bain & Company on Tuesday.
    After five years of successive growth, China's zero-Covid policy slowed economic spending, Bain's report said.
    Despite the tough year for luxury brands in China's market, the outlook is positive, with growth to resume in 2023.
    Bain said all luxury categories were affected by the decline to varying degrees. Categories with strong online penetration were less affected by lockdowns and fared better. For example, with 50...
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