“The growth rate of the prestige fragrance market indeed exceeds that of the high-end fragrance market. Luxury brands are doubling down on this category.”

According to the agreement, the joint venture will be founded in April this year in Changshu City, Jiangsu Province, with Goldwin holding a 65% share and SGAR holding 35%.

In the Chinese market, the Coach brand currently occupies a unique niche that is distinct from traditional European luxury brands, and this gap is unprecedentedly large.

Axel Dumas, who has led Hermès for ten years, rarely shares his latest views on the entire luxury industry and the Chinese market, and provides a detailed analysis of the company’s long-standing development strategy.

In January 2024, the actual sales volume in the mainland China market was very optimistic, and the group was very satisfied.

Luxeplace.com has selected the latest Chinese New Year art installations from five luxury and fashion brands, showcasing how each brand interprets the “dragon” imagery.

Sales in the Greater China region declined by 15% on an organic basis. Executives have stated that the slow overall consumer recovery is one of the reasons for the decline in this second-largest market.

In the last fiscal quarter, sales contributed by Chinese consumers (both domestically and overseas) increased by 42% year-over-year.

During discussions with Luxe.CO, numerous brand executives emphasized the crucial role of the Chinese market in their brands’ global strategy.

Bottega Veneta releases their 2024 Chinese New Year short film titled “The First Sunrise with You”.