The luxury sector faces significant challenges as Louis Vuitton postpones the opening of its expansive Beijing flagship store, reflecting broader issues in China's high-end market.

Gary Ng, Senior Economist at Natixis, notes, 'The main threats are the 'luxury shame' caused by policy changes and economic difficulties, leading to slower disposable income growth and a weaker wealth effect.' This sentiment is echoed by Jonathan Siboni, Luxurynsight's CEO, who observes, 'Luxury is no longer a priority, especially for the middle class.'

In response, major luxury brands are adjusting their strategies to align with evolving consumer behaviors and economic conditions in China.

Read the full article on Fashion Network.

Special thanks to Clémentine Martin for the feature!