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April 15, 2026
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Retail

Asian millionaires take to “revenge spending,” signaling hope post-coronavirus

March 13, 2020

Shopper return to Chanel Shanghai on March 8th. Image courtesy of Agility Research and Strategy Shopper return to Chanel Shanghai on March 8. Image courtesy of Agility Research & Strategy

 

By Dianna Dilworth

While the outcome of coronavirus has shaken Asian markets, millionaires from that region are returning to stores and the hospitality sector with an appetite for luxury and a new form of so-called “revenge spending.”

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  1. Mercedes-Benz prepares bespoke S-Class model for 2026 Masters
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  5. Gigi Hadid fronts new leather goods campaign from Miu Miu
  6. The Langham Shanghai restaurant earns second Michelin star
  7. Cartier, The King’s Foundation create fellowship for fine watchmakers
  8. Louis Vuitton bets big on Yayoi Kusama, begetting multichannel magic
  9. Kering establishes two new internal divisions
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