China to be the biggest luxury market by 2025, say consultants, after Chinese spending in sector doubled from 2019 to 2021

• Sales of luxury leather goods, fashion, jewellery and cosmetics are surging in China and on track to exceed those of all other markets in three years, Bain says
• In 2021 more than a fifth of global consumer spending on luxury goods was in China, driven by online spending and duty-free shopping, the consulting firm says