China
January 29, 2026
Beijing skyline at sunset
By Luxury Marketer Intelligence
The mainland China personal luxury goods market contracted by 3–5 percent in 2025, a significant moderation compared with the sharp decline seen in 2024.
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","iv":"7d420a43b58b89606ecb9f0041ca2c3c","s":"ffa4f9bb184135a8"}
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