As growth slows and uncertainty increases in the Chinese luxury market, the industry has generally adopted a cautious outlook for the future.
According to the newly released Luxury Brands in China Power Ranking 2025 H1 by Luxe.CO, the number of new store openings by luxury brands in the Chinese Mainland declined by 38% year-on-year in the first half of 2025, while store renovations dropped by 30%.
Despite these challenging conditions, a few luxury brands continue to expand or upgrade large-format stores in the Chinese Mainland, demonstrating their strong commitment to the market and a long-term strategic vision.
Luxe.CO has observed that four recent large-scale store openings and upgrades have attracted significant attention:
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Tiffany & Co. reopened its Shenzhen MixC boutique with a fully renovated façade, designed with the brand’s latest global concept. The massive exterior spans 450 square meters.
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Graff unveiled its new flagship in Beijing’s WF Central, the brand’s first duplex flagship in the Chinese Mainland, with a total area of 395 square meters.
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Louis Vuitton opened its second “Maison Louis Vuitton” in Shanghai, located in HKRI Taikoo Hui. The space, designed in the shape of the brand’s “Louis” cruise ship concept, spans 1,600 square meters and has quickly become a popular destination.
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Balenciaga upgraded its flagship store in Beijing’s Taikoo Li Sanlitun into the brand’s largest flagship globally, with a total of four floors and 1,204 square meters of space.
Among them, Louis Vuitton and Tiffany & Co., both under the LVMH Group, ranked first and second respectively on Luxe. CO’s Luxury Brands in China Power Ranking 2025 H1.
A few days ago, LVMH released its financial report for the first half of 2025, which showed signs of continued recovery in luxury demand in the Chinese Mainland, with a narrowing year-on-year decline.
Major brands are investing in reimagining the store experience with bold concepts, which not only shows confidence in the market but also highlights their creativity and execution capabilities in navigating industry headwinds. These efforts are expected to enhance brand vitality and stimulate consumer enthusiasm.
Tiffany & Co.
In July, Tiffany & Co. reopened its renovated boutique in Shenzhen’s MixC Mall. The brand currently operates two stores in Shenzhen.
The newly designed boutique follows Tiffany’s latest global design concept and features the world’s first large-scale façade inspired by Favrile glass. This effect is rendered in ceramics to express the vivid colors and rich texture of the original glass. The entire façade covers 450 square meters.
Favrile glass was developed in the early 20th century by Louis Comfort Tiffany, the brand’s first artistic director and legendary designer. It remains a key symbol of Tiffany’s artistic heritage.
The façade is adorned with mosaic bird motifs inspired by Jean Schlumberger’s iconic “Bird on a Rock” brooch. Each mosaic was handcrafted by artisans. Since its debut in 1965, the brooch has become one of the brand’s most recognizable pieces.
Step into the store, and cloud-like wall patterns and varying shades of blue create a soft and elegant atmosphere. At the center is an art installation inspired by the “Bird on a Rock” brooch.
Further inside the boutique, a chandelier accented with Tiffany Blue casts a gentle glow over showcases featuring pieces from the Jean Schlumberger collection, Tiffany Victoria®, and more.
The store is divided into zones, including a “Classic Collection” area, a “Love and Engagement” area focused on engagement rings, a watch section, and a private salon. Artworks in various styles are also featured throughout the space.
To mark the reopening, Tiffany launched a limited-time exhibition titled “A Journey Through Time: Tiffany Antique Treasures” at its MixC store in Shenzhen. The exhibition presents nine pieces from Tiffany’s antique archive, exploring three themes: “Origins of Craftsmanship,” “Legendary Diamonds,” and “Jean Schlumberger.”
Earlier this year, in January, Tiffany upgraded its flagship in Chengdu’s Taikoo Li, designating it as the brand’s first flagship store in the Chinese Mainland. It is also the only three-story Tiffany store in the market and the largest overall, featuring the brand’s only horology salon in the country.
In 2024, Tiffany renovated or opened a total of seven stores in the Chinese Mainland.
Anthony Ledru, President and CEO of Tiffany & Co., previously stated in an exclusive interview with Luxe.CO:
“China has always been a major growth market for Tiffany. Expanding our retail network in China and globally remains one of the brand’s top priorities.”
Above: Tiffany Chengdu Taikoo Li flagship store
Also in July, Tiffany unveiled a new flagship in Tokyo’s Ginza district, spanning over 2,540 square meters, it is the largest Tiffany retail space in Asia.
The store draws inspiration from Tiffany’s New York Fifth Avenue landmark, The Landmark. The innovative building stands at 66 meters in height and boasts a signature Tiffany Blue façade. The 7,600-square-meter undulating glass curtain wall was designed by renowned Japanese architect Jun Aoki, creating a fluid, wave-like texture on the exterior.
Above: Tiffany Ginza flagship store in Tokyo, Japan
Graff
In April, Graff unveiled its new jewelry flagship at Beijing’s WF Central shopping center. This marks the brand’s first duplex-format jewelry flagship in the Chinese market. The two-story space spans 395 square meters.
Graff now operates four stores in Beijing.
The flagship store at WF Central features a refined green palette in varying shades, unified by the brand’s signature Graff Icon motif. The exterior design draws inspiration from kinetic art, creatively incorporating raised and recessed versions of the Icon pattern to create a dimensional, wave-like texture that conveys a dynamic elegance.
The first floor of the flagship presents the dazzling world of Graff jewelry through a variety of thematic zones. Upon entering, guests encounter a circular showcase dedicated to bridal jewelry. A patinated green ceiling with a circular design pairs with a frosted, etched GEM chandelier by Giopato & Coombes. Glossy mother-of-pearl inlays embedded in wood-paneled walls, pale gold engraved glass accents, a perfume tower crafted from travertine, flooring featuring a signature Icon Lace pattern made from limestone and Pierre de Vals shale, and custom looped-fabric upholstery and carpets all reflect meticulous attention to detail.
The Classic Collection area is centered around an elegant design aesthetic. The warmth of oak wood complements the golden engraved glass, setting off the exquisite jewelry displayed in serpentine cases.
A dedicated sales area in tonal greens has also been created, featuring luxurious looped-fabric armchairs by French designer Pierre Augustin Rose, paired with custom hand-tufted carpets adorned with gold metallic threads and beaded embellishments.
A grand staircase connects the two levels and echoes the thoughtful design of the building’s façade.
The second floor houses the high jewelry section, highlighting the natural allure of rare gemstones. Three elegantly appointed private salons offer guests a luxurious and intimate jewelry viewing experience. Inside the salons, golden chandeliers, wall sconces, and ginkgo leaf-shaped lighting fixtures by Parisian design house La Maison Charles complement custom furnishings by Pierre Augustin Rose.
Since 2024, Graff has opened multiple new stores across the Chinese Mainland, including in Shanghai, Beijing, Nanjing, Hangzhou, Shenzhen, Chengdu, Shenyang, and Wuhan.
Louis Vuitton
In June, Louis Vuitton opened its new Maison at HKRI Taikoo Hui in Shanghai. This is the brand’s second large-scale Maison on West Nanjing Road, the other being at Plaza 66. Shanghai is now the first city in the Chinese Mainland to host two Louis Vuitton Maisons.
Coinciding with the store’s launch, Louis Vuitton debuted a new concept space at HKRI Taikoo Hui called The Louis, designed in the spectacular form of a cruise ship. The space celebrates the brand’s spirit of travel, cultural depth, and exceptional craftsmanship. It is the only installation of its kind in the world.
The grand ship-shaped building seamlessly integrates retail space, the Le Café Louis Vuitton restaurant, and the Visionary Journeys brand exhibition. The entire space spans approximately 1,600 square meters across three floors.
The concept of The Louis draws inspiration from Louis Vuitton’s legendary 19th-century travel trunks made for transoceanic voyages. It also symbolizes Shanghai’s role as a historical port and gateway to the East. The ship-like structure stands out among the city’s buildings for its singular silhouette.
Visitors begin their journey on the first floor with the Visionary Journeys exhibition, ascend to the second level, and then enter the Louis Vuitton Maison.
The exhibition focuses on four core themes: travel, craftsmanship, fashion, and innovation, offering a deep dive into the brand’s multidimensional heritage. Over 140 items are on display, ranging from 19th-century trunks and archival documents to 21st-century fashion and handbags.
Above: “Trunkscape” by Shohei Shigematsu of OMA, a highlight of the exhibition, resembles a time-travel tunnel. LED walls depicting shifting natural landscapes add a dreamlike effect, with classic Monogram trunks seemingly suspended in space.
On the second floor, the boutique features signature collections for both women and men, including iconic leather goods, accessories, footwear, and travel items. Guests can also access customization services, such as hot-stamping Shanghai and ship motifs onto personal items as a memento.
The third-floor Le Café Louis Vuitton showcases a fusion of Eastern and Western influences. Signature dishes include Monogram Ravioli, Fifth Avenue Lobster Roll, and Bridge of Shinbashi Sandwich. The menu also highlights locally inspired dishes such as “The Louis” (seabream with bergamot sabayon and seasonal vegetables) and an Oriental-style sandwich with confit duck leg and summer cabbage.
To mark the launch, Louis Vuitton hosted a 24-hour private event from June 26 to 27 at The Louis, featuring midnight film screenings, morning tai chi sessions, master chef classes, and poetic salons.
During LVMH’s first-half 2025 earnings call, the Group’s Chief Financial Officer, Cécile Cabanis, commented on The Louis project:
“This was a very unexpected initiative. The space is incredibly unique, blending brand storytelling, cultural exhibitions, retail, and lifestyle experiences. Something only Louis Vuitton can execute.”
“This approach generated significant foot traffic. Many visitors entered the retail space, and its opening was very strong. Overall, it has brought remarkable attention and deep brand engagement.”
Balenciaga
In May, Balenciaga reopened its renovated flagship store in Beijing’s Taikoo Li Sanlitun. Spanning four levels and a total of 1,204 square meters, it is now the largest Balenciaga flagship store in the world.
This marks the second large-format store Balenciaga has opened in the Chinese Mainland within six months. In December of last year, the brand opened its flagship at Shanghai’s HKRI Taikoo Hui, covering 940 square meters—then its largest store in China.
The upgraded Taikoo Li Sanlitun flagship uses spatial design, curated product offerings, and a vintage couture exhibition to convey Balenciaga’s avant-garde design ethos, deeply rooted in the brand’s DNA.
To celebrate the reopening, Balenciaga presented six vintage couture gowns by founder Cristóbal Balenciaga in the third-floor salon space. This marks the first time these archive masterpieces have been shown in China. Titled Women Behind The Dress – The Balenciaga Archive Exhibition, the showcase explores the brand’s enduring connection with its celebrated clientele—especially iconic actresses and trailblazing filmmakers, who have long embodied Balenciaga’s bold spirit and refined elegance. Each gown is displayed alongside a vintage photograph of its original wearer.
Special pieces from the maison’s haute couture salon at 10 Avenue George V in Paris were also released in-store on the day of the opening celebration. In tandem with the global launch of the Balenciaga | Automobili Lamborghini collaboration collection, selected items from the partnership were also showcased on-site.
| Image Credit: Official press releases and websites of the respective brands
| Editor: Zhu Ruoyu
