While some top international luxury brands are building bigger, flashier flagship stores in China to boost growth, others are shuttering outlets and refocusing marketing efforts online, underscoring a reshuffle in the world’s third-largest luxury market.
Despite the Chinese mainland luxury market showing strong performance in the first quarter of 2023 following the country’s reopening, growth slowed progressively as macroeconomic concerns arose, according to Bain & Co. Inc. in a report Thursday.
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