Marketing
July 15, 2021
China might seem like the answer for luxury growth, but there are risks in the medium term that could derail this burgeoning luxury market. Image credit: Li Ning's Fall/Winter 2021 collection, Weibo
{"ct":"ZEVU3vXfNM+UCqiNAKgB9ah+x6I7kmrDAZHjv7fJwq4lmVoBnQSrxuzf6C4KTI57ZwHTEsb5HYZqMxs6T2gCjwnDb84GDquNS6QEgvUbVH1Z3SRSazmH2wbLfyslk2VMhMue6kIty3XqkacXDBQmvtbN0lMk5\/GNzrH0MLMvsot\/UmfKlCxiM55kFZSz7aVTn2qMLzpwDQuLg\/w7wf29yPhri4TSL4sQINsymSTVOmOOiI1eYWVaBXDK4nXTy7b+ldHKJQtgcNCXZMnrdf7xD\/BoVPIfXLIIXwOxbSG7dsQH+oKy3ec0O6Qrzwzpfh5PD9xrzKhyhOxnJxmKGdMgK\/pqyf8xDj2TL61m8SE2zoq8s0SKZOJFFLcSDQz1LDtgIABPifgvx2+wwF2ugT7VWF2uhuz6B4WWtUWWZaR\/i5kbzz9DUFpdi5QKJXPQ5KRWBLedI9QufUvBclnGUjDGdW1mQ4aPp4s5ZU4XC+sTq0RT\/Z7tLBlvo5l5uaD2+yh++tZvaKkyd8gpmbu3pB6i4yNoioqbX6AsBISaGvr9mCBkdZr8m2GT66Lzv034esZ\/CXh\/eEGN6bV0BgJjpj5U2NnQjmqfCQRzZRw0UqcXMycuzFlptKqJ+kIE2fp1Ta9hw37OZz9I57luVFvMqi7rdbjMhD\/Ql15EuTXGBMfzqOmxBzPotw2eWP8nZ0W6uWLHrT\/VeX4yZdK\/h9mVI7T78vRAq0fb9yW10bkfSkPLLM2lhmMtyOBavnlMcHxmJqi813\/Ardua9G+LMsmrvzv\/qSvALkXdI9N5eSKzD1Cz3tQUVm2p99ZWKYrmggkGFoAmGmggTypELAib8IsbEHmUJ1tz6mW70GBGhvWVfxf5RIX38UidDKrx+Brvp4RGeAUGusDbLvZOqbjNpcctD2z3GB1oE1coLnV+2q8veKljlrz61SFWCxpgewGXAeJLDERKJPLX6lgmil4PL6zr2KE8Jz\/5+ch0pLBb3jGGiSOYVv9pKYJ\/JmFfciZsI0D71F13mUkpncDnv2ycYMoY3\/2NYtOlNHuWvtNxk3+4kFKnGZdAPmDIvO88xS6f2S99b\/Vjf8bWBQxewWMgcCWL6kSlnPgxfwn7k6tjPn1p+hvyXw5Nfuwo+78w1bC4Mkm2AItjbgH8iby8n1zTTu3HuqXT8zfz7csODzhMt6OAaj5eBn31+cukkAY7Y9XBFY9xK\/p\/8U3urweSY2AeT73c7LxNUaGQmaqC6s9B4LdIrR\/cmZgK+G9XitrwA6Wf3spxfKN6CHcjmCXeYf85t1Ngpk6KW2wEFeTXUCT0tU1Z7YUQr\/9eYk8IeRTQ5VY1j\/TK6LkO3OhRTeFUoGjJINpuJeCibdyflkdlsGbdGHUOtJF\/3wi7gkRz0LxzM5Q4GeXYM7CyygC2kksJ0xkX3oqSRTPd9LqW0B93fvbgKDS90vZSYwcBBE3DW0auXM3AzCEzLI5Ek77aKnMKjqQBQMWqRyQW5yirzEo70hs1cQjDT\/JgL1NVB7Pards0WQbNfFolFwMYYgjUnObG\/sPLlJ+S5uaJr9aknntAVtwNdHUdLh9GxnUff0fwV6xVSDe0yy375H7moqDGjj8Zr0XoovDRRBR04CuMivjcoYxvvwo4h4hBuXfIPxexNCsuYvBNfbNLUUG+cUxy1OxBYXs99U9iPi5qIwPSadBKbIGq2cZ7WvAo2LR\/nfY4\/i1Vzjoa6L6+9R9W+sHECnQyH55QLGatV1WuJRP60DcikRoqswNiHMXy4Q+1sgRnK0r07lsD4u4TnTBu4V9KQJqQ+62aX\/P7ZGP4MyojB7XpxFTaHDM3\/JGWEMY8LOGiRqcNYSK63H7JFjBZP2\/Lr864ucwsd\/L+EuJI7xThIRifzZJQH9XRr5fYQEvyOTe3klFBzhF1pzlV5X1Jv9NbQqm6\/9BcXCg53zXPadlL+8ZiLIWuZwjAHkMka2zYy4UDn26+baHhvN+s1QhuzPqbo\/dj3nhm+uLT1JDbEcdIEh8LU5kKtp\/fIiyBrlqor+VW4wcX5IePRSx0SWug+T9vH3xjcBqWo7Y0+fCbJqOyq2dcyx3Y2kLS0j0KGGolv9Ta+y3xFDZTG4iru4MAyvm1fJWiMn9eFtBeSFVLRis1BkaKFezZrIUlYWR7m88VBWh7OR4uS+9Rn02IRYmtDAy\/HW04uNNNJA+ixb9EMsYBS1jW6xlGtn47+9hvaPfINOcINuv\/wGeqbuSz88WE1DgxPEYZ7mlXD4zcWyzqG1SvY1T3uu1WP27NIh6uGfrKj3HY6aPVULHmO\/MYGDvYm4kwk4ZcfL9IfwnRAoHdhRh2BiGfbDi73XYSubirF08aP8aUw8mZZKuNqti4BDA0ny+L8Dd\/qy0X5kR2YUrgF\/7xg3vzUd7MUpA4kLrDoJRY2qDlrwPiQkuVA0k9wMOBqFClX5kPboNRWWcnMsT6QapDulgDI+2FjOJDDrpb1st2B9NPgsdIDUmStmvl4u3Z1CkU\/vJaqZYIa3BPbXAg\/wzn6fyok3J4nfwTC5Wlzzm4\/RsGvQKIbBYyRUlNGXVQ\/3QFV2Xj42S2MiF6LugUvRGdNWZ6ylyqn7Seydh7vMg12iCO3DcAI2uQmLXKZG1h0NJHXHjhbRAD3djKl7\/5HPPGb533TKXT+wPEtUKLm+OlBySyXjHF+dOp9s+uhPvjuHcdZQHrxitnscgLY1Cb0\/YVQxpdnNKrvJnoNzNIDepI5FduoAtVI2sSXmy\/9SRqQvZZM5vdVME\/6yyepEZ7SMdXEn2NUUSsKYNQmWuc9NdWgbpBTLGzHs5M4h1WQatQbiLIOFtNtSz0cso8Q3jMnND7CysIZwzEdsPK7j\/q4Mry8CZGA2Z2E\/FTfW1rd6vEqD9DZPSD\/Q7XjoEHP8b5jr2y4S76nTP0uxoLT1njgYMU5JeWTLayQP1juUi89URcPEC2g0BzUm36DZJW940kLT3NXI7WmYFh+srZCdfbc9Lb3E+VfXO0CdX1vX28ZJzDqSbGrbbi36M4JN4\/gcVClXUmL5YiskgtyVGDpif2sK\/UeugmDoOERQXwxJAOvoRurpXbrha\/sJDMDDhGZETJ2q6e16eLama0Cu2DvGX0Iwvi2OtTwxsPIQ9gNCqU2MUkf5ZxZn+PlHE11Qhs2O7lE4oIQJE2yfPACQ5JudEHLsjOfYguk8wkB4QbibmDEfJAHDH6avGCtXk0DqgAoWU5nlYuiF9QL70lwt3o5kCpiqs6M1AoFBesrPF1gd12gmISJmjILVmSw2SdCDi8TBs1z4MEGArh\/5WRkLhkADMd8PEtJEtnewxbUTTVgJl4J3FZlBqLOfXrSDS\/Pejql1UNmxRJRCaHLoX0x5VmKyECG5smILaWHPDxMqHzAzbRrJejkjzlsrX9c720\/nYInCg1d0h6rf\/SxCLQjDJ8RirsDzkDEDe4UwtymF9zvZ\/7Pvkic0rK9r8xYPRzz6I6Z0vrZ+Tv0hmRze6hdu96yUx1yY5YC5kaT4V82OSbFhstSvSTvtLYUWi42pfoCsYd0yMMqmfNUMV5brUAs+iUZ+FWWDJ3V9AhucOA+yWRVKyS0d+YRyVsVxB9QmmSHVPdi0Jgh8Sv6XOg6HaQMkTqIJQ7wfSkFPxoGFUnCLDeYFPku6TX1dUnCj9KsmLxwNuaYWcvMaQaex9FFV3iPcaFV6O9fK9HbyLiidg0LmzksYcdDEqUn3d5FwfU2lWSqYmDCNWDLYn8fBTWU+veGpLgolDcQh\/gqyaqXRy6MZrsRua7vs2lsHcFxOjXfOW7dALJZIP8T\/PWrHHB2hJV9hOQBab9PL2RMaHH0gY7Cpnlp2UORogkfnQcoWtry9G5GcGIXWBkIHOjY\/zR+OBRCbbd2pXpUoyttbQVsmxZ6NQkTXfMIm5ex9oyhECEFFcHhmuSkSzG4FjjCA++fYJ6GHXmc6bZ1jBrfNHrT8Qv5IQ+\/qFQsxqn19A7DPFogG1rRJo+x7U+5mqlFi+F7mGmvAti2j5zWMD+T5VDFkpebDdxyv0RAcFzwDgLAqGO6fSrpd7lOA1HTrEXXAAYtwp4NJuZPxVmwc8kJIayJO1kcKEM0tU495ghiuHd5RctPA1UdEvh+bqJ3xmF4LhGVvDEW8JFxa8ocHYMvsG0p6pr6Ydi0Lw4EBSpRC5AYKFsjaoD1lWZwXxlCFVsXe9rBDX569q5czAppm501oU6iyUZ+BFNHMeZvoFnvxLTQX+UVUSDZvgzAwtplIg1grJQWKXpQg5QoLiit2XjECp777WvhyDcIN6XggdaDXPWMTgMnzE+F5D1orI\/hd8TddsfXy9RBRxnGJSeTfJbdsughK9GjO5YJrWUXiJe76KV78xALficIr4n2GiGlVGzXJ2VGEeMknIAFfbjUTjcEiQAPu3AAMjyS83V+i9e8CbY35bWzYW6q8oRBrjZT5kaoJ4jvYxV78ImlAef\/\/URfllAvY2M7WIw5FuDKo6OrIoGurFyw1+VzJxYkMVw2axaeAYbcG+Tj01F6s0YC8mYfg\/1IswTB06OaQQrCOyvTrVpzrUtwNUXwsEmaOVMjeOopY9gM8LRPszFp4F9g1PKwJhY6OMC9xJfeLdKo3fNd2KyOxheDmz8mF33GJhYmSfpzpyvO69TbWr0MWvNvGIRzndC3LvAoZfiLFpxnRI6TtyK7dTEgcYc4JW9oTzvDSFzqNbKgmEvF+9QX9RYdStHA9l87YAeXOT15JVr3oya8EI8knA8oI54KXn0xXo0x5pmEmTRlnQhjDOcMJNMI0PQXUf1TzEEcM82KWL\/TLsoqokLyHqkaenAfRdx\/s\/8lfpOetsWmQub+PK7qGg5BurAjLmmSub7OnPQq1X0FpA0zhZv53kfCEYVNdr6XZ7uTaysWXPpH3O1H4WTUBZJfX\/s5E59bwC018fKv20jnc3VyJvwAnmEHcxCVJPFzbxmv4Ez6KeC3\/eeRuKQej1Y4jt5IwVCgXw2LsBXGIhDKESKyzMtNB749LwTUN8lychrzArXNU6oZ1cg2geYS4yqE1OmS5rU+rFmBS2l0oasF9sl4Bjkax912qej6krellsU6qqDZ+0aFammBSHQ2RPWLZJkxzUMc6AjASSSrmQMonXb5K7sfQNzsAto49\/2OURS2jTVAxK29fDODSjHBemTBYKPB0p2mFItYsqy3PteiewhI1MjIFMr6tvWmXCq+jbQFZw01L1tzkH6awhAmC\/QM5wBKwlOSGVc\/ScdkTvL9mUUKf+wzr8JXo9gbrFmTxeoUERoTzcSx9p6Ui7U5RmIlpKjrm33nhiNkww5x1vCXqMJqZjyn3KzMg\/UTDI031EtyQef6c0gBytE77nBAzbz6SkMwEkEE7QnmnexIA0evczWAsYSEBzoRT+nff9ysuWwNeUB3gmbq3NX6tLEpNS9\/aBUxiytO5RORH4QKv3HxdnerwbMKFUPSOdVQY5+7JfaJRAWaXOdKaeY4NXLm3M+TWx4DIZNa5LH2m9CXnw0supU3UuJZkRrvqLGrOTxPvr9xfjpOFqnz7Jsq6DZckVwatcjebWOtfslkW6Ci5enNIuPxglFY1UKaRVcI35sZRUybbzb2K4otuXGAFk3m+y\/IRs8BjMTL5Q2llAwpkSsHIWAvsL4nbr99IZZ7RpSyJtWeLUe0+snAK9vJLgwZlTemEZavLUaW2XZFdUodA6uQT0RwJtQRT0hTzponbml3Wt86Dq1EBJc7fqkLaXsszSW66PHn28tCY7C+9N1XM4Mgg1MJttZaEuUbLA6ak8ZDRurk1VN8aACPIp+ZfOiMj9kphW8MtL2w8v+8LqIrjDpqMDCwpuwbDfVGWcZnGbY0\/OVZoegyCCiCexfNyKJesPLGRbj3bjUSSCZHLu3J3vDw\/76XbY3vx5+XB5sZ6niAw7kCA2Praw7M5wiHuDh\/jxiqg23AFN\/V7kKSKKulf89gHu1kkXl4rmQdA6zXvUdhAAUYJQPIhCV6M3c3nB0TaT1PlFP9+tcyPnO5FogxH\/8a9jRejrczibbCufWNoerTjy\/AAn5SJNyNmLPGn8CbffFku2p5c+kiz65+r3b8oECb6y34DbOB4kY\/JqxIo65IycTeZx7Ggf9zKUN4JCCCItzj8rQdFUh3uxfn5SxukgagSq8TLKb1AUjbAP+i01aZYpRmwsbYwk59Vyg8x5RwANS5iNBGyGIL6o6l7yUTG5\/b9\/+OAG7Y4YAAOEtIHcorUeoUezJ+Ae18oIV1+M0oIHg9eNb2DeyaZ6XDVnIRUAd1SN9rC577pnXYYH1\/z0h26jZ9gZWSIeRGg10x+zMUYgmICogYAfQJoZFhTYMNhQdMbxKTaicY5rMACpWnX6T9heHD8ssRieLfmYPhHLzuumJo9H576Bc4zp8thAmmux6q1etQVJNiNh8EL1OYVI7iwBifXCDZAeH9gpKxb4oL5aKG4YwWaDb5Pk4t\/l14b+1PDqSadSEVMYPduXD1j7yw+qWvb1kE6iq52xMVeQPoj9Lpw3pBGizsX\/qIKMeMN\/iEpDEtelcBVc+BlVyVrl97oNfL0fRDmXHGIvXtUdgE4OjOvatKxalKkvRMmfnickBTSzUvXx4GMUrmkWrm0BekkVLX4+9MJRlEC8\/S3i+LFlIggqHV4D2SYVTRkIZGxbGWG3NQRwP0WDI7immn6XO3CHffnOe5nmeYwGpJDP5+cj3wxogVmgsOrUlfimY7I8JSdFB2HwvsMxmx2ClQgNOQu8nsFBo4qIixXVc\/jxtR+D4P4UMV983J23jy3HpcNxD6lGPIRqjKtUGEl0DeUcD1O0xoA5wPU3jU3lbCstmf9zqFeHViznbeyJw++K1IQrdE12iHqpyL6DmeZh2EBdhJXrMuTvo4AggiqWGR9LlaGOivbrfM9N+sHZTXvUGo5ApdovdBFrSpdALNZfPuV3yTBUkkgmdYJxBP269LjethItfUYAWKH1mUSr1YzmECm4ZpVVApITnYRGPA7Zydni+q5wLZ1fVTaYqGlO7eKgmWPGqh30dkoZBZBj51GprYWzrYWkNGzmE\/oIPQ\/QuBFLR1xJPsVSyIeBWvWjSdvEOmUuqNDGnMjWZLGzmQUpoMAhZQxvmi2nb6lYz+630JbZT7aS+ixmXy6I\/LpW75jGXI\/E6o4XeecK\/V1RYycij\/IC3KtTE5IFP0ZYk3EWgOQa9VPAahnHnoFlAmdJQJQ4+3XXEq4SRO+GvJQLhxjqhD4k3CBKhywomShMXjpKmwK+tRPyX9lBdfApmQTZrqd+DFKSoLHwWCLOCdflPIZ1E1YEjNCEegWJNpaEfW1hCivP+E94I+CGpsbIi05BUqPjTT8gORNvqEmj94Ww\/Tpg\/Ff+qEnu0CH3F7msfsUCuf+2EQl33Wu09VuEkxAeQzE5tVndOWOcoHIn8+xikLHJ8lrzmnbilfh3zXLGR8lGH4fy6fRHrQlg9\/BlW+GNNMzxugm4PRBMY2r6OjxSRE2PR5ynHYAwu+ubvRl+we4EZ76xKHVM+5qfBouYFsF+5zdPoPziWLMcDy00ZllwJivrLUPnabQf0Bez9dmKajkzTRjnOcOqlMzZcLrgKgqvsRo+v1oHb\/axtJ4K3WqrG\/F2CJYSudRkkyDQlTn9UGTH2UciGsA8PwCkvBbeA0gJYLCSuOCHM7ZTeEtq+wYrYefMPGqO5HRo9JocG2q2O384R\/zcxBChLtO+jktOoJxR6GZPrhuuM7fl4\/M2sNHfjA0uWD46foKbf9TNHfMFv8tBNVJh+rRfl1X+h\/sfXa0jsLzlNe0A4Zduk94bsBBrxvKEvc2Dfo7eVO7prk0XB5flZQ2oI\/xs0RADeQCfp9eU\/BnYSBqRCWHOmGmMQXvILiUZaS1vpywmZUMrNpwYu+haJmiz6K6y+PHppUtrKt7zIfCcUCt7O02bC3nXfZZ64zfXgBj3DjMjbNMLpQzujyxeXdml2M2WWImGX9nPTCI9RHL1lp0Jhm3j1Y\/ZBTJqARlGOhQN7FMGUKpwQCImrWz1XxbZu4qhZiMkrp2IzGLFRkMfAhz6qC\/j2GAaOZSCgLUDPf+CQLl\/PUdNncUMDbBtQqO57TrYBe0n\/PaDwVB0yRQBEWmpgJsVUSt4d5yBYgbMSbp4mj+w7AZS33FIz2Cn0SYYgD1bNCmBF\/0+KNuiWVWLw0SYAUwTGWS7TpkUiVuF1ag0jnZDZYpxMfuEEZzRA0UQ4MMS37WVNYszKYtNLl9+rt\/HCxdK5tRBGj5KTyG20eX4eab6peMnROmKJaivYeq6Z9TyrpqFrx9Vz7yHd4q\/WdhT5OIOP7oqpGCm7+b\/94tkXMv35pJvmYqII5WhGpQzlo54ZDNaQfCzpw4UP1wkbp3BmcX5r3V9b5euZfQfd\/mKpv6Mc7RA+pSYvphrfr4fmxwSRwckhN3H90JJ80vpOOoGMcsfV2TMbcvrIbA23pVDX3cCZURmc6rne0kZSlY+jftykKWG21SE7uomh6y+FGAQUm9MHAEkXoyPkByE5xO6EENaoWO5A9gOChU9nhJm6nLk38LmmpNaS1I6K0OyCO3EMCEd2OxedwGjlitsJoQoTsYgSY7cz6GxG7gBqmZiRnSKqKiaQV\/AFTd6bL\/j3YMdth0+h0rrVFR1ICgnpIEdQ4DDY1MXHvVjZdxkYFfsoWTBRHT6z8trH+onFw9IvKXJIwiU91\/A7C6G7u3ZPJziEMfqTywZ4YeJO3L7e10b\/iuL3zIgo8tLXMKs\/zib623I4xhTpGJkEAc\/l7um0CsWsfCu2cmwJa+c\/I3f3uk96u0Q6\/uKEg3p+21+4tvXHkZVB+bFYp44orznqcPDAiePDTulmONoKQq5tPTwus0M0MpT+bTWTDBg5y20k9oNiTdeRLzZjf2zCF\/xe20YnnLtt++DqziLDzFAMA2BXH\/U9tnVchM\/dS4Qa8VxtcM7eYBqQ94N1wSSZ3\/C2icIf\/P7\/aLB4QS1Ov5z2kr9UUIQSg3v\/Xkyt6Vjo+2I2sZPzNQSZ6UfwEDVcNhcbXT5vR49D7utCr241TUE8hcWbuxShue\/D9TgpDMj99S6wk6DWiH1Z4J4jzmt5cakL80ru6DyEPRYdnscBZjWUeryXJ6wrZj4RO7h2kR7bp0JBA+Ukg9e3zP907N+XBQYKmPn4ss9ENvQn8gdNs3MGYUEw8LE3J\/qAfy+4FhXN1xKa0gsX2cTHT9wPTVEppGg23DrywEN550lGQsESQXSQjcVOXZzddS7paxxGHKeQXiucNXlMqyugxoFa9GTz6Bx2F+mRtdOyWVZ1txMQumATzSd3\/E2MDMaYnIwqzpnDaBJB3I72obWJqyvTi2OwMM+Zni91ssf9BHGJFu6qfXwShm4XJBUdyQUJQuUA0h56YsT9Uxlr+zhzwtSMppu7Z1bzqeT1fY851a5\/","iv":"c6d8a910ead75eeee08f4e5f0e476645","s":"b31eae3e2f096e76"}
Share your thoughts. Click here