Despite a double-digit decline (-24.4%) compared to the same period in 2022, China continues to hold its position as Italy’s largest supplier.

Zegna CEO Discusses Zegna China’s 360-Degree Transformation.

The Buccellati family is still 100% involved in all aspects of the brand today, which precisely constitutes the uniqueness of the brand in the field of high-end jewelry.

Marco Palmieri shared market insights from his recent trip to China and the strategies for deploying the three major brands in the Chinese market.

Compared to the same period in 2021, sales in the Chinese market for the first nine months still achieved double-digit growth.

In terms of average spending, Chinese tourists had the highest expenditure at 1541 euros (+14%).

In the third quarter, Moncler’s brand revenue in the Asian market increased by 22% YoY at fixed exchange rates, demonstrating the best performance among all markets.

“We are not seeing the same incidence of Chinese out of Greater China as other brands. Most of our Chinese spending occurs structurally occurs within the domestic market.”

“This research extensively explored the profound relationship between Chinese consumers and Italian brands.”

Villa San Michele was acquired by Belmond in 1982, and Belmond joined LVMH in 2019.