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Financial services

Luxury recovery in China likely to determine industry trajectory in coming years

September 24, 2020

From all accounts, it seems the Chinese luxury market is bouncing back, but the roadmap to recovery may not be the same for the West post-COVID-19 given China's inherently digital lifestyle. Image credit: Luxury Society From all accounts, it seems the Chinese luxury market is bouncing back. Image credit: Luxury Society

 

By Sarah Ramirez

NEW YORK – Cautious optimism for slow growth in the luxury industry during 2020 was quickly extinguished by the rapid spread of the coronavirus, with the repercussions reverberating for years to come.

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  1. 35pc of aspirational consumers reduced or paused luxury spending in past year: BCG, Altagamma
  2. Hermès makes fitness fabulous with Hong Kong pop-up
  3. Positive Luxury partners with Buyerdock
  4. Chrono24 names first-ever chief growth officer
  5. Hermès expands watchmaking facility in Switzerland
  6. Ritz-Carlton Yacht Collection adds third ship to fleet
  7. Follow @LuxuryDaily for the latest in luxury news
  8. Luxury Unfiltered: When was the last time you truly surprised your client?
  9. LVMH to collaborate with authentication platform through startup program
  10. Prada taps ‘Re-Nylon’ profits to resource environmental education
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Positive Luxury partners with Buyerdock
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