Research
January 30, 2026
Valentino's VLogo print takes center stage in a Lunar New Year campaign. Image credit: Valentino
By Amirah Keaton
Mainland China’s personal luxury goods market contracted 3-5 percent in 2025, according to global consulting firm Bain & Company.
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","iv":"d02c64b746d35441eb5f22e30b02d3ef","s":"6959759c86f889e8"}
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