Asia
Maison Dior is delighted to announce the opening of a Café Dior by Anne-Sophie Pic…
On Wednesday, January 29, 2025, the Chinese New Year begins, a celebration of great cultural and economic significance that symbolizes new beginnings, opportunities, and growth. In the luxury sector, this date has become a key moment to connect with Chinese consumers, who lead the global consumption of personal luxury goods.
In line with this important celebration, LUXONOMY is preparing to present, next week, its exclusive Report on the Profile of the New Chinese Luxury Consumer, a comprehensive analysis that reveals the trends, preferences, and purchasing behaviors of this influential group of consumers.
With this report, we provide a strategic guide to understanding and seizing the opportunities presented by the Chinese market, which will continue to lead the luxury sector in the coming years.
The 2024/25 Métiers d’art collection, showcased at nightfall on West Lake in Hangzhou, draws inspiration from Gabrielle Chanel’s cherished Coromandel screens. This timeless connection is reflected in the collection’s use of embroidered floral motifs and a color palette featuring jade green, pink, and sky blue. Each silhouette presents unique details, including phosphorescent braids, luxurious tweed long coats, and envelope-shaped pockets, creating an enchanting narrative. This collection invites viewers on a poetic journey, encapsulating the elegance and artistry reminiscent of Chanel’s Parisian legacy.
In 2024, China’s luxury market faces a new challenge: “luxury shame.” This phenomenon is reshaping strategies for high-end brands due to economic downturns and government policies aimed at curbing conspicuous consumption. Chinese consumers, influenced by economic uncertainty and social pressures, now prefer discreet products that retain long-term value over flashy items perceived as excessively opulent.
This shift is not just an economic reflection but also a cultural transformation. Recent economic fluctuations in China have caused uncertainty among consumers who previously viewed luxury goods as essential status symbols. This economic instability is compounded by government measures promoting frugality and responsibility, steering consumer behavior toward more conscious and less overt displays of wealth.
The luxury market in India has experienced impressive growth in recent years, driven by a combination of economic, demographic, and cultural factors. The country’s economic transformation, along with increased personal wealth and greater exposure to international brands, has created a conducive environment for luxury expansion. This report will provide a detailed overview of the factors driving this market, its segmentation, current trends, challenges, and future prospects.
LVMH, the world’s largest luxury goods conglomerate, has been significantly impacted by the recent slowdown in China’s consumer spending. In the first half of 2024, the company’s net profit fell by 14%. This trend is part of a global phenomenon affecting luxury brands, particularly in Asia, a key market.
Luxury brands are adopting an aggressive discount strategy in China, offering up to 50% price…
Influencer marketing has emerged as an essential strategic tool for luxury brands seeking to consolidate and expand their presence in the Chinese market. This report provides a comprehensive analysis of the current state of influencer marketing in China’s luxury sector, emerging trends, challenges, and opportunities in this evolving market.
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