China and India don’t have enough luxury, says Savills

Featured image of the article China and India don’t have enough luxury, says Savills

An article by Morgane Monteiro

Publication

16 May 2024 à 11h07

Updated on 14 June 2024 à 17h32

Reading time

1 minute

Publication: 16 May 2024 à 11h07, Updated on 14 June 2024 à 17h32

Reading time: 1 minute

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An article by Morgane Monteiro

Publication

16 May 2024 à 11h07

Updated on 14 June 2024 à 17h32

Reading time

1 minute

Publication: 16 May 2024 à 11h07, Updated on 14 June 2024 à 17h32

Reading time: 1 minute

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According to a Savills report published on May 15, luxury store openings worldwide fell by 13% in 2023. 41% took place in China, where the number of new luxury stores nevertheless fell by 12% year-on-year. Other Asia-Pacific countries accounted for 17% of total expansion, up 31%. According to Marie Hickey, Director of Commercial Research, “the slowdown is not surprising as markets normalize. It should continue until early 2025″.

To remember: The luxury sector faces challenges (consumer...

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Article authors
Featured image of the article Morgane Monteiro
Morgane Monteiro Journalist
Featured image of the article Morgane Monteiro

Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.

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