Web2 hours ago · STORY: Sales at Birkin bag maker Hermes rose 23% in the first quarter, beating market expectations.That as wealthy shoppers in China and Europe spent big on luxury goods - despite higher prices and global market turmoil. Group sales for the three months ending in March came to $3.74 billion.Hermes’ finance chief said store traffic in … WebNov 6, 2024 · The total value of China’s personal luxury goods market – which excludes services and experiences – was valued at 44 billion euros (US$50.9 billion) in 2024, …
Luxury Brands Are Betting Their Future On China, But It …
WebMay 20, 2024 · Last year, the country accounted for 21% of the world's personal luxury goods market, behind North America and Europe, according to consultancy Bain & Co. It is expected to become the top market ... WebJan 20, 2024 · LONDON — Riding on the back of 8.1 percent GDP growth in 2024, the highest in the past decade, China ’s luxury goods market logged another good year, with strong double-digit growth overall in ... cynthia argil
China’s luxury growth rate to slow in 2024 – CPP-LUXURY
WebApr 10, 2024 · LVMH Revenue 2024-2024. This growth is attributable to LVMH's strong brand portfolio, diversified product portfolio, extensive retail store network, and … WebA Complex Consumer Mix. Mainland Chinese consumers born after 1990 have witnessed the Chinese economy's meteoric rise as well as the Chinese luxury market's steady expansion. Today, post-90s consumers account for 50 per cent of China's luxury shoppers and 46 per cent of total market size, with an annual growth rate of more than 30 per cent. WebFeb 22, 2024 · As the world’s second largest luxury market, China is expected to play a crucial role in shaping the future of the industry. According to Bain & Company, China’s … billy petrick