全球奢侈品:中国之行的10个关键要点.docxVIP

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全球奢侈品:中国之行的10个关键要点.docx

20May2026

GlobalLuxuryGoods

GlobalLuxuryGoods:10KeyTakeawaysfromOurTriptoChina

WehavebeenontheroadwithagroupofinvestorsinHongKongandShanghaitomeetwithpublicandprivatecompanies,retailers,industryinsiders,togetthetemperatureoftheluxuryandfashionmarketinChina.(Seeourlastyear’stakeaways:GlobalLuxuryGoods—FromtheRoadinChina).

1.Chineseluxurydemandisstabilisingfromaweakbaseandremainshighly

polarised,withverystrongtop-endspendingandstill-fragilemiddle-classdemand.

Thehighendcontinuestospendonluxurygoods,travela

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