China’s luxury goods market expanded 36% in 2021, growth to slow further this year – report
China’s luxury goods market expanded 36% in 2021, growth to slow further this year – report

China’s luxury goods market expanded 36% in 2021, growth to slow further this year – report

 

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China’s luxury goods market logged another good year, with strong double-digit growth for 2021 and with some brands posting more than 70% growth, the Bain & Company’s annual China Luxury Report revealed on Thursday.

The country's luxury goods market grew by 36% in 2021 from the previous year to 471 billion yuan, but slower than the 48% increase in 2020, Bain said.

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