Luxury goods in China face up to 50% discounts as economic challenges drive middle-class consumers to reduce spending on big-ticket items. The discounts in the country are offered primarily by aspirational brands.

According to Luxurynsight, 'Average reductions on Versace and Burberry products in China across all distribution channels reached, and in some cases exceeded, 50 per cent in 2024, up from 30 and 40 per cent in 2023, respectively'.

'In the past, 'everyone was a winner' in the luxury market in China. Now there is a polarisation between winners and losers.' said our CEO & Co-founder, Jonathan SIboni.Discover more insights on the Chinese economy and strategies opted by luxury brands to navigate through the times in the full article on Financial Times.

We’re grateful to journalists, Annachiara Biondi and Thomas Hale for the mention!