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":"d7216a5d71353127e3bb69f2b2f94f63","s":"852da9a117137ebf"}
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