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":"ce22f1597c044c24189a035bc33e600c","s":"42ef601979deb66e"}
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