Intro to hard luxury in China: A rich and storied history ...Middle East

This report is the first in Jing Daily’s New Chinese Consumer series that explores China’s evolving hard luxury industry. China’s astounding economic ascent over the past 30 years has transformed the global luxury market. Historically, every era witnesses a defining consumer market that shapes luxury trends. In the early 20th century, it was the US; in the 1960s, it was Japan; and now it’s China. Thanks to economic reforms initiated in the late 1970s, Chinese consumers are now digitally advanced, brand-savvy, and value-conscious. And while they were once onlookers in the European-dominated luxury landscape, they are now set to lead the luxury consumption charts, accounting for a whopping 25

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