Luxury Brands Target China's Consumption Power

Luxury brands are leveraging China's Year of the Dragon to introduce dragon-themed products, targeting the Chinese market and its strong spending power. The Chinese luxury market is expected to grow, reaching 35-40% of the world's total by 2030. Global luxury brands are focusing on China, with duty-free sales in Hainan Province growing by 25% year-on-year. The upcoming Spring Festival holidays are anticipated to be prosperous, and the Chinese government is prioritizing consumption upgrades.