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Thematic (Sector/Industry)

China Consumer discretionary distribution and retail / Thematic (Sector/Industry)

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China’s luxury market last year failed to recover to 2021 levels amid a slowdown in economic growth and as more consumers made purchases overseas, but a modest pick-up from the previous 12 months has inspired optimism among major luxury houses, according to a new report and brand forecasts.
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The sector grew 12% year-on-year in 2023, indicating a recovery from the previous year’s pandemic-induced decline, consultancy Bain &amp; Co. Inc.’s latest report about the market shows.
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“The solid double-digit rebound is commendable, but China’s luxury market has not fully recovered to its 2021 levels,” said Bruno Lannes, a senior partner at Bain &amp; Co.
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China’s luxury market last year failed to recover to 2021 levels amid a slowdown in economic growth and as more consumers made purchases overseas, but a modest pick-up from the previous 12 months has inspired optimism among major luxury houses, according to a new report and brand forecasts.


The sector grew 12% year-on-year in 2023, indicating a recovery from the previous year’s pandemic-induced decline, consultancy Bain &amp; Co. Inc.’s latest report about the market shows.


“The solid double-digit rebound is commendable, but China’s luxury market has not fully recovered to its 2021 levels,” said Bruno Lannes, a senior partner at Bain &amp; Co.



LVMH Moet Hennessy Louis Vuitt (LVMUY US)

China Luxury Market Still Lags Previous Heights Despite ‘Solid’ Gains in 2023 