Latest News

May 28th, 2020, Shanghai, China - "In China, Gen Z (i.e. post-95s) ranks first among the heavy luxury consumers who buy luxury goods every month, with more than 12 luxury items purchased each year!" This insightful conclusion comes from the Chinese Luxury Brand Consumers — A Generational, Gender and City-tier Analysis published today. On the day of the research report's release, Dr. Julie Laulusa, Managing Partner of Mazars China, the world's leading audit and advisory firm, invited a number of luxury industry heavyweights, including Mathieu Delmas, Managing Director of Piaget China, Stephane Wilmet, Chief Consumer Officer of L’Oréal China and Lawrance Shum, Chief Operating Officer of Galeries Lafayette China. Together, via a webinar, they share and explore the profound and thorough report which has researched on the luxury consumption views of four generations of Chinese consumers.

As the impact of the epidemic stabilises in China, the domestic market is seeing a strong rebound in high-end consumption. Active in the second largest luxury market around the world, Chinese consumers are featured with strong capacity and high frequency of luxury consumption. China accounts for more than 33% of global luxury consumption – which is expected to rise to 40% by 2025. How to meet the expectations of this large and potentially diverse range of consumers is a key concern for forward-thinking market practitioners.