April 11, 2022

IPREX Blog from Newell PR

IPREX Blog from Newell PR: Luxury goods firms boost China presence as decoupling with the West gathers pace

Even though its borders remained firmly closed due to COVID-19, China still ranks as one of the largest and fastest growing markets for luxury goods globally, and one that every major brand is seeking ways to actively address.  

Before the pandemic, more than 155 million Chinese people ventured overseas annually, and together became a major driving force of international tourism and luxury goods consumption, from Bangkok to New York — often because of cheaper prices than at home.
Now that Chinese consumers are confined to their own market, many are opting to shop at stores close to where they live or work, in addition to the burgeoning online scene.
IPREX’s Hong Kong Partner and Managing Director of Newell Public Relations David Croasdale reports.

Read David’s Report