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":"d62f3527d01327edbb725f563e38d40b","s":"41427727774143c4"}
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