Luxury has become more Chinese, more local, and more available online. How to invest?
As the pandemic sweeps across the globe, there are three emerging trends that are worthy of attention: 1) China has become an even larger market for luxury brands; 2) more sales of luxury items are now sold online than ever before; and 3) luxury has become more local, both in terms of their sales activities and in terms of the products and services offered. These three trends will have significant impacts on the global luxury industry for the next several years. Both the brand owners and investors will need to adjust their business strategies and investment portfolios accordingly to adapt to the new environment.
Chinese consumers spent $21 billion on personal luxury goods in 2019, accounting for 90% of the growth in the global luxury-goods...
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