News Snapshot:
The coronavirus pandemic nearly doubled luxury sales in China It takes more than a coronavirus pandemic to suppress the demand for luxury goods in China. Figures from Bain & Company show despite mounting global social and economic challenges, China’s luxury goods market finished another year with double-digit growth, with some brands exceeding a 70 percent increase. In 2021 the sales of luxury reached 471 billion yuan (74.3 billion dollars), up 36 percent after the first surge of 48 percent in 2020, Bain reported. A value that almost doubled over a period two years during the pandemic crisis, due to the...
