Key Takeaways from Our CEO, Jonathan Siboni, at the Journal du Luxe Webinar:

Contrary to global reports, China’s luxury sales remain robust, staying close to the record levels seen in 2021.

Emerging Market Trends:

> Cashback Initiatives in Malls: To lure luxury shoppers, some malls are offering cashback rewards on high-end purchases. For example, a mall in Wuhan gives 10-15% cashback on loyalty cards for Louis Vuitton buys, generating significant customer interest and boosting foot traffic.

> Cross-Border Shopping Apps: Platforms like Dewu (the new-gen Daigo) are empowering Chinese consumers to shop luxury brands abroad. According to Bloomberg, Dewu drove 14% of Louis Vuitton’s sales in China, with $300 million spent in the first half of this year alone. While these sales are recorded in other regions, the primary buyers remain Chinese.

> Resurgence of International Travel: Chinese travelers are once again venturing abroad, with Japan becoming a favorite luxury destination thanks to a weakened yen.

These trends showcase the evolving luxury landscape in China post-COVID.

A big thank you to Eric Briones for hosting us!

Watch the replay below!

Disclaimer: the webinar is available in French language only.