Part 8/9:
Luxury merchandise is increasingly being marketed to VIP shoppers, as brands host exclusive events like exhibitions and concerts aimed at enticing the affluent youth demographic. This strategic pivot illustrates a notable shift in how luxury goods are perceived and purchased within an evolving economic and cultural landscape.
Looking Ahead: A New Normal?
As the once-promising luxury boom in China seems to be fading, the unfinished flagship stores become emblematic of a broader industry shift. Experts predict that sales in China will remain subdued, potentially extending into 2025.