Hong Kong Rebounds as China’s Gen Z Reinvents Luxury Access

LUXONOMY | Asia-Pacific Edition — December 2025

Asia’s luxury landscape is undergoing a profound shift. Two developments —the revival of premium retail in Hong Kong and the emergence of new access models among young Chinese consumers— are reshaping strategies for global luxury houses.

Hong Kong Retail Reignites: +6.9% in October

Hong Kong has posted its sixth straight month of retail growth, with sales rising 6.9% year-on-year in October 2025, driven by a sharp return of international visitors and growing regional demand.

Among all categories, one stands out clearly: jewelry, watches and valuable gifts, which surged 9.5%. This momentum signals that the city is reclaiming its historic role as Asia’s luxury gateway — a hub where tourists seek high-value pieces, in-store experiences, and tax-advantaged purchases that complement the online ecosystem.

After years of competitive pressure from other regional shopping destinations, Hong Kong appears firmly back on the map.

Meanwhile in China: Luxury Is Becoming a Group Experience

Just across the border, a younger generation is quietly redefining how luxury is consumed. China’s Gen Z has embraced a striking trend: collective purchases of high-end jewelry through group-buying circles and private crowdfunding.

Brands such as Tiffany & Co. and Van Cleef & Arpels are among the favorites of these groups, who split the cost of pieces that traditionally symbolized individual prestige.

This behavior —fueled by social platforms, private chat groups, and digital communities— is reshaping the meaning of access:

• Luxury becomes a shared experience.

• Products remain exclusive, but entry points widen.

• Prestige shifts from “owning” to “taking part”.

• Viral visibility amplifies brand momentum among young consumers.

For luxury maisons, this movement opens the door to fresh audiences while raising an important question: how to maintain exclusivity when ownership is shared?

A Reconfigured Luxury Chessboard

The convergence of these two dynamics —Hong Kong’s renewed momentum and China’s youth redefining access— produces a new regional scenario in which:

• omnichannel-strong brands will consolidate their influence,

• physical retail regains importance as an emotional touchpoint,

• luxury storytelling must adapt to more social, community-driven motivations,

• authenticity and traceability will become decisive in markets with increasingly diverse access models.

Asia continues to lead the evolution of global luxury, and what begins today in Hong Kong or Shanghai will shape the industry’s direction in the coming years.