Latest News for: China luxury travel

Edit

Dior gowns, Vuitton bags cater to China Gen Z shoppers' high demand for luxury

Hindustan Times 14 Apr 2021
And those shoppers are increasingly spending their money at home and online, rather than travelling to the expensive luxury emporiums of Paris and Milan as they would have done pre-pandemic ... The luxury goods market in China grew 48% last year as travel disruptions boosted domestic spending, according to a December report from Bain & Co.
Edit

SONDERMANN | Two weeks in China — 24 months later

Colorado Politics 21 Mar 2021
In the spirit of reflection which seems to dominate these weeks, let me harken back not one year but two in order to recall and think again of a trip we took to China in March 2019. From early on, my wife and I have eschewed fancy cars and other luxuries in favor of travel and seeing various parts of our world.
Edit

During pandemic, Prada sales saved by demand in Asia

Beijing News 14 Mar 2021
Sales were further fueled by a rebound in demand for luxury goods in China and other parts of Asia, and this rising tide appears to have extended well into 2021. Luxury fashion brands have been left reeling from the crisis-hit tourism and travel sector, but the China-driven luxury rebound has lifted some companies out of their ruts.
Edit

Prada bags sales boost from China rebound, online shift

Metro USA 10 Mar 2021
Luxury fashion companies have been hit hard by the impact of the crisis on tourism and travel, but an improving backdrop in China, one of the world’s biggest luxury markets, has helped some companies to bounce back. Milan-based Prada, famous for its luxury bags and clothes, also benefited from a surge in online sales.
Edit

The Langham, Shenzhen wins award

Shenzhen Daily 18 Feb 2021
THE Travel + Leisure magazine recently unveiled its 2020 China’s Top 100 Hotels list and The Langham, Shenzhen has won the honor for its fourth consecutive year since 2017. The year 2020 marked the 14th edition of the China Travel Awards by the Travel + Leisure magazine.
Edit

China holiday consumption withstands travel curbs

Taipei Times 18 Feb 2021
Robust consumption over the holiday helps China’s economy recover, but the spending was far below the yearly growth rates of 10 percent seen before COVID-19 ... Sales of luxury goods in China have been stronger than mass market products since the pandemic, reflecting restrictions on overseas travel and a stronger recovery in wages for high-earners.
Edit

China’s holiday consumption withstands travel restrictions

Hindustan Times 18 Feb 2021
The number of people traveling over the past 20 days plunged 73% from a year ago, according to data from the Ministry of Transport ... -- David Qu, China economist ... Sales of luxury goods in China have been stronger than mass-market products since the pandemic, reflecting restrictions on overseas travel and a stronger recovery in wages for high-earners.
Edit

Gucci sales slide for another quarter, as pandemic ends years of growth

Taipei Times 17 Feb 2021
Gucci sales fell for a fourth quarter, ending years of expansion as the luxury brand and growth motor of the global luxury group Kering struggled amid renewed COVID-19 lockdowns in Europe ... With sales growing in China as travel globally is restricted, luxury brands have been raising prices there.
Edit

Thriving Louis Vuitton offsets drop in sales at luxury group LVMH

RTE 27 Jan 2021
Booming sales at LVMH's fashion brands like Louis Vuitton, particularly in China, helped to cushion the impact of the coronavirus pandemic, which has crimped revenues at the French luxury group.  ... Declining international travel has also deprived luxury goods companies of tourist revenues. .
Edit

Burberry’s overall retail sales drop 9% but growth in Asia remains strong

Business Day 20 Jan 2021
Burberry’s decision to eliminate discounts is showing progress as the brand aims to elevate the image of its products in the eyes of luxury consumers ... China has been the luxury industry’s bright spot since the start of the pandemic. With Chinese consumers unable to travel abroad, many splurged on luxury items in their home market.
Edit

Burberry sales drop as new coronavirus lockdowns keep shoppers home

Hindustan Times 20 Jan 2021
In China, a virus resurgence is threatening consumer demand during the crucial Lunar New Year holiday. China has been the luxury industry’s bright spot since the start of the pandemic. With Chinese consumers unable to travel abroad, many splurged on luxury items in their home market.
Edit

Were Diamond Companies Worth the Investment?

Diamonds Net 14 Jan 2021
RAPAPORT... Investors in stocks consider many more factors ... 1 ... 2. China has seen a robust recovery. Luxury shoppers on the mainland are spending locally rather than overseas due to limitations on travel. Luxury houses will benefit from their stores in China, but will struggle in other places that rely heavily on tourist traffic. 3 ... .
Edit

Las Vegas casino magnate, Republican mega donor Sheldon Adelson dies

Union Leader 12 Jan 2021
Son of a cab driver ... He filled his gambling hubs with trendy restaurants and shops, making them luxury destinations for business travelers and tourists alike. Adelson moved quickly when China opened up Macau’s gambling sector to foreign operators in 2001, building a casino resort and convention center and ushering in an era of staggering growth ... ....
Edit

2020: The year that changed fashion – and not just the look

The Observer 31 Dec 2020
China is already experiencing a strong economic recovery, aided by luxury shoppers prevented from travelling to popular European shopping destinations spending at home instead ... The consultancy firm Bain & Co predicts that China, the only region to report year-on-year growth in ...
Edit

Year in Review: Diamond Trading During Covid-19

Diamonds Net 29 Dec 2020
Travel restrictions likely to affect global trading, leading to possible polished oversupply following strong rough demand ...China business reopening amid new coronavirus reality ... • Global brands focusing on China and e-commerce as mainland luxury shoppers limit travel, impacting seasonal sales at Hong Kong, New York and London flagships.
×