Financial Times
Commenting in the Financial Times, BCG’s Sarah Willersdorf highlights China’s impact on the growth of the luxury industry in the coming year. Chinese tourism to Europe—a big driver for luxury shopping—is beginning to return but still lags behind pre-pandemic levels. “As China continues to open up, where the tourist traffic flows will be very different,” she notes. Therefore, luxury brands will need to serve Chinese customers in cities outside Europe and the US.