Fendi’s 2021 year of the Ox CNY series. Photo: Fendi
Fendi’s 2021 year of the Ox CNY series. Photo: Fendi
Daniel Langer
Opinion

Opinion

Daniel Langer

What does the Year of the Ox mean for luxury markets in China and beyond? Chinese Gen Z consumers have emerged to be the most influential in the world, and luxury brands need to keep up

  • Luxury brands struggled in 2020 due to Covid-19, and the slow vaccination roll out means 2021 is likely to bring little relief
  • While European and North American luxury markets shrunk, China’s grew by 50 per cent in 2020 – thanks to patriotic consumers, ‘revenge spending’ and KOLs

Fendi’s 2021 year of the Ox CNY series. Photo: Fendi
Fendi’s 2021 year of the Ox CNY series. Photo: Fendi
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