Positioned to be the largest luxury market in the world by 2025, China currently accounts for 41% of the total global market today.
That number should get more than a few businesses itching to break into the market.
Even throughout 2020, as the Covid-19 pandemic began and continues, the global luxury market dropped by 23%. The China market had the opposite effect: a 48% increase.
These numbers alone make the case for why China must be a key focus for luxury brands.
To read more on why premium luxury brands can win in this competitive market – and why more should follow – check out Full Jet Powered by Baozun’s Founder and Chairwman’s interview with Fashion United below.