Luxury market in China loses five-year growth reign, declining 10pc in 2022: Bain

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A new report from the consulting firm suggests that while strong online strategies can help luxury brands in China recover, the country's crisis has resulted in a mass contraction of sales.

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","iv":"4abd3a075de72b9056454003d047e58b","s":"b75939d76517b83c"}

 

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Bain: China’s Luxury Market Contracted 10 Percent in 2022The consultancy firm expects growth in the sector to resume in 2023, with sales returning to the 2021 level as soon as the first half.
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