Shoppers in line to enter a Hermes store in Hong Kong. Credit: Sipa via AP Images
For the first time in three years, Chinese tourists are boarding planes headed to the hotspots of Europe and Asia. And western luxury brands — which count on wealthy Chinese as a key client base — are hoping that they touch down with open wallets and a healthy appetite for expensive bags, watches and shoes.
It’s been a rocky few years for the Chinese luxury market. The industry took a deep hit in 2020 when the pandemic broke out, before rebounding domestically the following year, and again plummeting in 2022 due to renewed health restrictions and the resulting economic slowdown.
Now that Chinese nationals can again travel abroad — where roughly 70 percent of Chinese luxury shopping occurred before the pandemic — brands like Chanel and Louis Vuitton are hoping for a reset. While there is reason for optimism, as with several industries and trends in China, luxury shopping is unlikely to return to its pre-pandemic patterns anytime soon.
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