News Snapshot:
Chinese women walk by a luxury store in Beijing. Kevin Frayer/Getty Images China will become the world’s biggest luxury market by 2025, with Chinese consumers set to make up almost half of global spending on luxury goods by 2025, according to a new report. Mainland China was the only region globally to end the year on a positive note, with sales rising 45% to €44 billion, as international travel restrictions led more consumers to shop in their home country, Bain & Company said in a report published on Nov. 18. “Local consumption has roared ahead across all channels, categories, generations...
