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Luxury invests in Lunar New Year 2024

Heightened competition from local businesses that won over Chinese shoppers during pandemic lockdowns is requiring industry players to evolve beyond what were once niche marketing moments featuring A-listers, now becoming full-fledged cultural engagements. Image credit: Burberry Honoring the Year of the Dragon, luxury brands are evolving what were once niche marketing moments into full-fledged cultural engagements. Image credit: Burberry

 

As luxury players look to survive an industry-wide slowdown, they face an added layer of local competition from businesses that won over Chinese shoppers during pandemic-era lockdowns.