Now Reading
Despite the pandemic, China’s luxury market is performing well in 2021

Despite the pandemic, China’s luxury market is performing well in 2021

View Gallery

Sales of luxury goods in the Chinese market grew by 36% in 2021 and it is expected to become the world’s largest by 2025, according to several media outlets reporting on Bain & Company‘s “China Luxury Report 2021”.

 

Despite the Covid-19 pandemic, the Chinese market has managed to record significant sales growth over the past year. Domestic sales of luxury goods reached a sum of 471 billion yuan ($74.24 billion) in 2021 and almost doubled compared to the year 2020.

 

See Also


In addition, China’s share of the global luxury market has increased to 21% in 2021 from 20% in the previous year. It is expected to keep growing to become the majority market in the luxury sector by 2025, according to Bruno Lannes, partner at Bain & Co. and co-author of the report.

 

[…]

This article is reserved for subscribers.

Subscribe now !

Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…

Already have an account ? Please log in.

Featured photo : © Getty Images

What's Your Reaction?
Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

COPYRIGHT 2021 LUXUS + ALL RIGHTS RESERVED

Scroll To Top