“The future of luxury is being shaped here, in China, with China and with our Chinese clients,” said Marc-Antoine Jamet, LVMH’s secretary general, in Paris before heading to the annual China International Import Expo (CIIE) in Shanghai.
China is a top market for the French luxury giant, where it operates 46 brands, more than 1,800 stores and about 27,000 employees, according to Jamet. “Local consumption continues to move upmarket, guided by a search for meaning, quality and experience rather than simple ownership. We already see new opportunities emerging in beauty, gastronomy and cultural experiences,” he added.
Even so, China’s luxury market has shown signs of stabilising in recent months after years of disappointing performance amid a slowing economy and persistent challenges such as the real estate crisis, high youth unemployment and low consumer confidence.
Most brands reported improved third-quarter results compared with the first half of 2025, with increased reinvestment in physical assets and operations, according to an HSBC report published in October.
Louis Vuitton THE LOUIS boat in Shanghai
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