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

Daniel Langer

Daniel Langer is the CEO of the leading luxury, lifestyle and consumer brand strategy firm Équité (equitebrands.com), and the professor of luxury strategy and extreme value creation at Pepperdine University in Malibu, California. He consults some of the most iconic luxury brands in the world, is the author of several luxury management books, a frequent media commentator, a global keynote speaker, and holds luxury masterclasses in Europe, the USA, and Asia. Follow @drlanger on Twitter