Western luxury brands close select stores in China

AI-summarized · Neutrality-checked

Western luxury retailers, including Louis Vuitton and Galeries Lafayette, closed select stores in mainland China as demand waned amidst a stagnant economic recovery. Bain & Company reported that China's personal luxury market contracted between 3% and 5% in 2025, while the domestic secondhand luxury market grew by 15% to 20%. Consumers increasingly shifted…

Sources and context

Know where. Know why.