The exterior of Pravda luxury store in a shopping district in Beijing, China. Chinese demand for luxury goods is projected to grow as much as 30 peer cent this year. Photo: Getty Images
Chinese demand for quality goods to see luxury industry spending rise by 30 per as retail therapy takes hold
- High-income mainland shoppers set to drive the country’s post-pandemic economic rebound, in good news for global fashion houses
- It’s the only plus for luxury brands though, as worldwide spending is expected to drop by 45 per cent in 2020 because of pandemic
The exterior of Pravda luxury store in a shopping district in Beijing, China. Chinese demand for luxury goods is projected to grow as much as 30 peer cent this year. Photo: Getty Images
