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Mainland China’s Luxury Market Poised for Growth: Insights from MDRi’s 2025 Consumer Forecast

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Forecast Projected Growth of Chinese Luxury Market in 2025: A Shift Towards Experience, Innovation, Chinese Brands and Sustainability

HONG KONG SAR – Media OutReach Newswire – 13 December 2024 – MDRi, a leading provider of business insights, today released its China Luxury Consumer Forecast 2025, presenting an in-depth analysis of luxury consumption trends in Mainland China and Hong Kong. The report highlights a market in transition, where Chinese consumers exhibit sophisticated preferences for experiences, domestic brands, sustainability, and innovation.

Despite the prevailing macroeconomic uncertainty and inconsistent growth across various luxury segments, the overall sentiment for luxury spending remains robust. The report reveals that 56% of Mainland Chinese luxury consumers plan to increase their spending in 2025, compared to only 48% in Hong Kong. This divergence is largely influenced by a more pessimistic outlook on Hong Kong’s economy, shaped by international monetary policies and geopolitical tensions.

Economic uncertainty continues to loom over Hong Kong, where 12% of luxury consumers intend to reduce their spending next year, compared to 9% in Mainland China. This cautious sentiment reflects broader concerns about the region’s economic stability.
In Mainland China, luxury spending is expected to be driven by high-end jewellery, handbags, and travel experiences, with nearly 60% of consumers planning to allocate more of their budgets to luxury travel. In contrast, positive sentiment is less pronounced in Hong Kong, where the luxury market is becoming increasingly polarized. Over 10% of consumers in each luxury category in Hong Kong plan to reduce their spending, showcasing a cautious approach, especially in categories like handbags (9%) and travel experiences (4%).
This report underscores the importance of understanding the evolving preferences of luxury consumers in both regions, as brands navigate a rapidly changing market landscape.
Simon Tye, CEO of MDRi, commented: “Mainland China is currently experiencing a dynamic shift in luxury market. Recent industry data has unveiled contrasting trends, with certain luxury conglomerates witnessing declines in Asia-Pacific revenues, while others have observed growth in parallel instances. This disparity prompts inquiries into the authentic sentiments of Chinese luxury consumers. Luxury brands should obtain deep understanding of the unique preferences, behaviour, and aspirations of consumers in these cities that are conducive to crafting highly targeted and resonant marketing strategies. The strong consumer demand for luxury watches, handbags, jewellery, and travel experiences positions these categories as key growth drivers for the industry. Brands that make consumer insights the foundation of their product development and go-to-market plans will be best positioned to solidify their leadership in these high-potential luxury segments; and agile brands that continuously monitor and respond to changing consumer preferences will be the ones to dominate these in-demand categories.”
The report identifies five key trends shaping the Chinese luxury market in 2025:

1. Luxury Lifestyle & Experiences

Mainland Chinese consumers are increasingly prioritising lifestyle-driven luxury, with 57% planning to boost spending on wellness, fitness, and luxury travel. Gen Z emphasises self-care and wellbeing, while Millennials seek exclusive, adventurous experiences that create lasting memories. Notably, wellness and spa treatments rank among the top items the youngest consumers (aged 21-25) in Mainland China plan to spend more on in the next 12 months (63%, ranking number 2 and just slightly below health and fitness activities (64%)).

2. Shopping Destinations

Mainland China’s Tier 1 cities, led by Shanghai, remain dominant luxury shopping hubs. However, Sanya is emerging as a rising destination, with 23% of Mainland Chinese luxury shoppers making purchases there in 2024, driven by duty-free policies. Hong Kong remains a luxury shopping destination for Tier 3 city shoppers but is losing appeal among Tier 1 consumers, who increasingly find comparable luxury experiences closer to home. Hong Kong’s attractiveness among lower-city luxury consumers could be partly attributed to the Chinese Government’s efforts in fostering Hong Kong’s tourism in these cities.
3. Preferences for Domestic Brands
National pride is driving a growing preference for domestic luxury, with 56% of Mainland Chinese consumers planning to buy more from Chinese luxury brands in 2025. Millennials, in particular, balance global prestige with domestic pride, driving demand for both French and Chinese brands, especially in watches and fashion. The success and influence of Chinese luxury brands have the potential to shape the future direction of the global luxury industry, setting new standards and pushing the boundaries of what luxury means in the years to come.
4. Sustainability and Second-hand Luxury
Sustainability is now a central value for Mainland Chinese consumers, with 85% stating it is important and 42% willing to pay a premium for sustainable luxury products. Younger luxury consumers (aged 21-25) are leading the charge in embracing the allure of second-hand premium products highlighting the rising environmental consciousness. Second-hand luxury is also gaining traction, with 59% of Mainland Chinese luxury consumers purchasing pre-owned items in 2024, particularly small leather goods and shoes. Younger consumers, especially Gen Z, view second-hand luxury as a way to express individual style rather than just a cost-saving option.
5. The Role of Technology and AI in Luxury
Mainland Chinese consumers are embracing tech-driven luxury, with 90% willing to pay a premium for innovative products. AI-powered personalisation is seen as a key enabler for tailored customer experiences, though concerns about its impact on exclusivity remain, with 66% expressing reservations about AI-driven mass customisation.
Driven by evolving consumer sophistication and upper-middle-class expansion, Chinese luxury consumers are increasingly globally mobile, technologically advanced, and discerning. With 42-47% of Chinese luxury consumption projected to occur abroad, Mainland China’s luxury market is setting global trends. Growth will be propelled by domestic brands, sustainability, and the rising influence of younger consumers.
Reflecting on 2024, Mainland China showed stronger growth in the luxury sector, with an average annual spend of RMB234,500, a 7% year-on-year increase. Spending in Tier 2 cities surged by 22%, outpacing Tier 1 cities. In Hong Kong, luxury spending rose modestly, with average expenditures increasing by 3% to HKD223,900. Significant growth was seen in high-value items like jewellery (+64%) and handbags (+66%), highlighting a preference for big-ticket purchases.

The survey was conducted from April to May 2024, with a sample size of 1,500 luxury consumers from Mainland China and 500 luxury consumers from Hong Kong. All respondents were required to have made purchases of luxury items and to have spent a minimum of 50,000 in their local currencies on luxury purchases within the past 12 months.
Simon said: “The Chinese luxury market is undergoing a profound transformation, largely influenced by the preferences of the younger generation, particularly Gen Z. This cohort is not only redefining luxury consumption but is also poised to reshape the global luxury industry. Their demand for personalization, wellness, and sustainability, combined with a strong inclination towards innovative Chinese brands, signals a departure from traditional luxury norms. As they prioritize exceptional experiences and meaningful connections over mere ownership, existing and new brands must adapt to these evolving expectations. By continuing to learn about their needs, building strong relationships with them and investing in personalized services and holistic wellness initiatives, luxury brands can foster loyalty and build lasting relationships with this discerning demographic, ultimately revolutionizing the industry.”
For a deeper dive of the report, please click here.
For further information, interviews, or comments, please contact [email protected].

Appendix
Categories Overview of Chinese consumers (Top 3 brand aware and brand purchased)

Luxury Watch

China Hong Kong
Brand aware Brand purchased Brand aware Brand purchased
Cartier ▲2% Rolex – Cartier ▲8% Rolex ▲1%
Bulgari ▲2% Omega ▲1% Rolex ▲7% Omega ▲1%
Rolex ▲4% Cartier ▼4% Omega ▼2% Longines ▲10%

Luxury Jewellery

China Hong Kong
Brand aware Brand purchased Brand aware Brand purchased
Cartier ▼1% Cartier ▲1% Gucci ▲14% Cartier ▲8%
CHANEL – CHANEL – Cartier ▲10% CHANEL ▲8%
Bulgari ▲3% Bulgari ▲2% CHANEL ▲11% Gucci ▲3%

Luxury Fashion

China Hong Kong
Brand aware Brand purchased Brand aware Brand purchased
CHANEL ▲5% CHANEL ▲2% CHANEL ▲11% CHANEL ▲5%
Balenciaga ▼6% Balenciaga ▼1% Balenciaga ▲2% Balenciaga ▲4%
Dior ▲2% Dior – Gucci ▲9% Gucci ▲5%

Luxury Handbag

China Hong Kong
Brand aware Brand purchased Brand aware Brand purchased
CHANEL – CHANEL ▼2% Balenciaga ▲4% CHANEL ▼1%
Balenciaga ▼1% Balenciaga ▼1% CHANEL ▲9% Balenciaga ▲1%
Dior ▲1% Dior ▲1% Hermes ▲12% Dior ▲6%

Beauty and Cosmetics

China Hong Kong
Brand aware Brand purchased Brand aware Brand purchased
Dior Beauty ▲2% Estee Lauder ▲7% Lancôme ▲9% Shiseido ▲6%
Estee Lauder ▲3% Lancôme ▲1% Shiseido ▲5% SKII ▲1%
Lancôme ▲4% Dior Beauty ▲5% SKII ▲9% Lancôme ▲1%

Wine and Spirits

China Hong Kong
Brand aware Brand aware
Chivas ▲2% Rémy Martin ▲6%
Rémy Martin – Martell ▲4%
Hennessy ▼1% Hennessy ▲6%

Consumer preferences of each luxury category

Luxury Category Mainland Chinese Preferences Hong Kong Preferences
Watches – Prefer multifunctional and jewellery watches

– 31% prefer Chinese-made watches

– Value brand design

– Favor simple, everyday styles

– 12% prefer Chinese watches

– Consider resale value

– Prioritize craftsmanship
Jewellery – Favor yellow gold (55%) and diamonds (52%)

– Value easy recognition

– Prioritize diamonds (61%)

– Emphasize craftsmanship

– Resale value influences decisions
Fashion – Recognize CHANEL and Balenciaga as top brands

– Prioritize quality of materials and comfort

Handbags – Prioritize style and aesthetic appeal – Emphasize brand awareness and material quality
Cosmetics – Prefer international brands

– 55% purchase through e-commerce platforms

– Favor Japanese brands
– Prioritize ingredients and efficacy
Wine

and

Spirits

– Prefer Chinese Baijiu (56%) and high-end whiskey (56%)

– Values brand awareness and taste

– Prioritize high-end whiskey (53%) and red wine (45%)

– Values taste and cost-effectiveness

– Increases in high-end whiskey purchases

Hashtag: #MDRi #SimonTye #ChinaLuxuryConsumerForecast #Luxury

The issuer is solely responsible for the content of this announcement.

MDRi

Based in Hong Kong and with operations in London and Singapore, MDRi is a leading provider of business insights, empowering organisations with data-driven advice to make informed decisions and drive growth.

Through advanced analytics, industry expertise, and innovative methodologies, MDRi uncovers strategic opportunities, mitigates risks, and helps businesses stay ahead in a rapidly evolving marketplace. With a commitment to excellence and client-centricity, MDRi is revolutionising the way organisations harness insights for success.

The Mishcon de Reya Group

The Group is an independent, international professional services business with law at its heart, employing over 1450 people with over 650 lawyers. It includes the law firm Mishcon de Reya LLP and a collection of leading consultancy businesses that complement the firm’s legal services.

Mishcon de Reya LLP is based in London, Oxford, Cambridge, Singapore and Hong Kong (through its association with ). The firm services an international community of clients and provides advice in situations where the constraints of geography often do not apply. Its work is cross-border, multi-jurisdictional and complex, spanning seven core practice areas: ; ; ; ; ; ; and .

The includes consultancy businesses , (in London, Singapore and Dubai), , (in Hong Kong) and . The Group also includes , which invests in the most promising early stage legaltech companies as well as the Mishcon Academy, its in-house place of learning and platform for thought leadership.

Earlier this year, the Group announced its first strategic acquisition in the alternative legal services market, flexible legal resourcing business Flex Legal. It also acquired a majority stake in Somos, a global group actions management business.

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XIXILI Reimagines Plus-Size Lingerie in Malaysia

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KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 6 December 2025 – XIXILI is rewriting the rules of lingerie shopping with its Plus Size Collection, moving beyond the typical S, M, L, XL approach that leaves so many women without options. The brand’s extensive range proves that well-fitted, beautiful lingerie shouldn’t be a luxury reserved for a select few.

When One Size Definitely Doesn’t Fit All

XIXILI’s Plus Size Collection flips the narrative that women need to settle for less-than-ideal sizes.

“For too many women, bra shopping has meant settling for sizes that almost fit or styles that prioritise function over fashion,” says XIXILI spokesperson Grace Tan. “Inclusivity is about recognising that every woman deserves access to beautiful, sexy, well-fitted lingerie. That shouldn’t be a problem they have to solve alone.”

To address the challenges of online fitting, XIXILI combines a detailed bra size chart with its pioneering ‘Try-On in 3D’ avatar tool. The feature allows women to generate a personalised digital twin based on specific measurements, enabling them to visualise the fit before purchasing.

Support Without Sacrifice: Plus Size Done Right

The Rufina Full Coverage Full Cup Bra sits at the heart of XIXILI’s Plus Size collection, designed for women who have been told they have to choose between support and style. The Rufina bra offers full coverage support with a contemporary silhouette that works under everything from work blouses to festive party dresses. Engineered specifically for fuller figures, it celebrates natural curves instead of trying to hide or minimise them. It’s the kind of foundation piece that lets you focus on your day, not your discomfort.

“We want every woman to feel supported, comfortable, and beautiful in whatever she’s wearing,” says Grace Tan. “Whether it’s for work, family gatherings, or special occasions, the right fit makes all the difference to daily comfort and confidence.”

Empowering Women With Knowledge, Not Just Options

XIXILI recognises that offering more sizes is only half the equation. Many women have spent years navigating limited options without proper guidance on finding their actual measurements.

The brand addresses this through interactive bra size charts, how-to-measure videos, and one-on-one personalised fittings at boutiques nationwide. By equipping women with the tools and knowledge to identify their true size, XIXILI transforms what can be a frustrating shopping experience into a more confident and informed process.

As Christmas shopping gets underway, the Plus Size Collection offers both a thoughtful gift for loved ones and an opportunity for self-care during the busy holiday season.

For more information and to discover the full range, visit XIXILI’s website.

Hashtag: #XIXILI





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XIXILI

A homegrown Malaysian brand, XIXILI offers beautiful fashion lingerie and shapewear in Malaysia that prioritises fit and comfort. With an extensive range of bra sizes from A to I and bands 65 to 110cm, XIXILI caters to women of all shapes and sizes. Expert fitters are dedicated to helping each customer find the perfect bra, boosting confidence and enhancing silhouettes.

XIXILI became the first Malaysian lingerie brand to introduce a Try-On in 3D avatar tool, allowing customers to virtually try on XIXILI lingerie using a 3D avatar tailored to their specific body type and measurements. Whether for everyday wear or something special, XIXILI ensures women always look and feel amazing.

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Essential Document Checklist for SIM Applications

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SINGAPORE – Media OutReach Newswire – 6 December 2025 – Submitting an application to the Singapore Institute of Management (SIM) represents a significant academic milestone and requires meticulous preparation. Incomplete or missing documentation may result in processing delays or possible rejection. To assist applicants in meeting these requirements, this guide provides a detailed overview based on SIM’s official application standards.

Preparation Is Key

SIM reviews thousands of applications each year, and incomplete submissions remain one of the primary causes of processing delays. Early preparation of all required documents is essential to ensure a seamless application experience and allow applicants to remain focused on their academic objectives. As stipulated in SIM’s Application Process Guide, all supporting documents must be uploaded at the point of application and submissions lacking these documents will not be processed.

The Core Documents Every Applicant Needs

Prior to applying to the Singapore Institute of Management (SIM), applicants should ensure that all required documents are prepared to prevent processing delays. Scanned copies of academic certificates and transcripts, such as GCE ‘O’ and ‘A’ Levels, diplomas or degrees must be provided, along with certified translations and notarisation for documents not in English.

Proof of English language proficiency, such as IELTS or TOEFL results, is mandatory for applicants whose previous education was not conducted in English. Identification documents are also required, including the NRIC for local applicants and a valid passport for international applicants, accompanied by a recent passport-sized photograph that complies with SIM’s specifications.

International applicants must additionally prepare documentation for the Student’s Pass application, which includes the passport bio-data page, birth certificate, evidence of financial capability, and, where applicable, parent or guardian identification documents.

Quick Tips to Avoid Delays

Submitting an application to the SIM can be a straightforward process with proper preparation. Ensure that all documents are uploaded in the correct format, with PDF being the standard for certificates and transcripts. For documents not in English, certified translations must be provided to prevent rejection or requests for re-submission.

Applicants should also adhere to SIM’s photo specifications by submitting a recent passport-sized photograph that meets official guidelines. International students must pay particular attention to financial documentation, as proof of financial capability is a key requirement for the Student’s Pass application. Bank statements and supporting documents should be prepared in advance to comply with Immigration & Checkpoints Authority (ICA) requirements. Following these steps will help avoid unnecessary delays and ensure a smooth application process.

Application Essentials

Prospective students are advised to submit a complete and accurate application to ensure smooth processing. Detailed instructions and programme-specific requirements can be found on SIM’s official application portal. Applications that are incomplete or contain inaccuracies will not be considered. To avoid delays, applicants should make use of the provided checklist and guidelines to confirm compliance before submission.

References:

  1. SIM Application Process – https://www.sim.edu.sg/degrees-diplomas/admissions/application-process

Hashtag: #SIMGlobalEducation #SIMGE

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About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

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Vinfuture 2025 Honors Four Groundbreaking Scientific Achievements Under The Theme “Rising And Thriving”

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HANOI, VIETNAM – Media OutReach Newswire – 5 December 2025 – The VinFuture Foundation officially announces the laureates of the VinFuture Prizes 2025. Four outstanding scientific and technological breakthroughs have been honored, reflecting this year’s theme “Rising and Thriving”, and highlighting the role of cross-border scientific collaboration in addressing global challenges in health, environment, and human livelihood.

The Chairman of the National Assembly of Vietnam, Mr. Tran Thanh Man, presents the VinFuture 2025 Grand Prize, worth USD 3 million, to the laureate scientists.

The 2025 VinFuture Prize Award Ceremony was broadcast live on VTV1, the national television channel of Vietnam. The event was attended by Mr. Tran Thanh Man, Politburo member and Chairman of the National Assembly, along with leaders of central ministries and agencies, representatives of embassies and international organisations, and distinguished scientists from around the world.

The VinFuture Prize 2025 received 1,705 nominations from scientists, research institutions, and technology enterprises worldwide, representing an almost threefold increase relative to the inaugural year. These submissions highlight impactful cross-border research efforts focused on protecting public health, advancing next-generation intelligent materials, addressing climate change, accelerating novel energy solutions, and strengthening global food security frameworks.

The 2025 VinFuture Grand Prize valued at US$3 million is awarded to Dr. Douglas R. Lowy, Dr. John T. Schiller, Dr. Aimée R. Kreimer and Prof. Maura L. Gillison (USA) for discoveries and development of HPV vaccines for prevention of tumors caused by human papillomaviruses.

Foundational studies on HPV capsid proteins by Drs. Douglas Lowy and John Schiller led to the development of highly effective HPV vaccines, preventing millions of cervical cancer cases, especially in developing countries. Furthermore, the single-dose vaccination regimen developed by Dr. Aimée Kreimer – now recommended by the World Health Organization (WHO) – has significantly expanded vaccine access for populations worldwide.

In parallel, laboratory and epidemiological studies by Prof. Maura Gillison and Dr. Aimée Kreimer established the link between HPV and head-and-neck cancers, which represent an emerging cancer threat expected to be mitigated by HPV vaccination efforts. The achievements of Dr. Douglas Lowy, Dr. John Schiller, Dr. Aimée Kreimer, and Prof. Maura Gillison have already saved millions of lives and will keep lowering the global cancer burden for decades to come.

In addition to the Grand Prize, the 2025 VinFuture Prizes will also present three Special Prizes, each valued at US$500,000, recognizing Innovators from Developing Countries, Women Innovators, and Innovators with Outstanding Achievements in Emerging Fields.

The 2025 VinFuture Special Prize for Innovators from Developing Countries​ is awarded to Prof. María Esperanza Martínez-Romero (Mexico) for advances in microbial ecology and symbiotic nitrogen fixation in the tropics. Prof. Martínez-Romero has discovered and described numerous new Rhizobium species, significantly expanding scientific understanding of microbial taxonomy and plant-microbe interactions in agriculture. Her work has opened new directions in the study of bacterial-plant symbiosis, with profound implications for sustainable agriculture in resource-limited settings.

The 2025 VinFuture Special Prize for Women Innovators is awarded to Prof. Mary-Claire King (USA) for identification of the breast and ovarian cancer susceptibility gene BRCA1, laying the foundation for genetic testing, screening programs, and personalized treatment. Her landmark identification of the BRCA1 locus on chromosome 17q21 in 1990, before the human genome was sequenced, is considered a historic milestone, demonstrating the genetic basis of cancer risk and transforming prevention and treatment strategies worldwide.

The 2025 VinFuture Special Prize for Innovators with Outstanding Achievements in Emerging Fields has honored Prof. Venkatesan Sundaresan (USA), Prof. Raphaël Mercier (Germany), Dr. Emmanuel Guiderdoni (France), Dr. Imtiyaz Khanday (USA) and Dr. Delphine Mieulet (France) for innovations in the development of clonal hybrid crops. Hybrid seed production for rice, the staple food for more than half of humankind, is a laborious and costly procedure resulting in a high seed cost. The team’s work has enabled rice plants to produce seeds that retain all the superior traits of the parent plant through self-pollination, grounded in new insights into developmental biology and genetics. This groundbreaking research improves yields, reduces seed production costs, and advances sustainable global food security.

Sharing his reflections on this year’s honored works, Prof. Sir. Richard Friend, Chair of the VinFuture Prize Council, stated: “The 2025 VinFuture Prize Laureates have made big advances in science that have brought direct benefits to human health and to global sustainable food crop production. From new vaccines and new understanding of genetic susceptibility to disease to new approaches for plant breeding and new protocols for healthy crop growth, these achievements exemplify the power of science driven by compassion and cross-border collaboration – showing that when knowledge serves humanity, it not only deepens our understanding of the world but also strengthens and sustains the very foundations of life itself.

After five consecutive and widely acclaimed award cycles, the VinFuture Prize has been securing recognition among the world’s most prestigious science and technology awards, receiving 6,132 nominations from nearly 110 countries and territories across five continents, and honoring 48 outstanding laureates. The awarded innovations—spanning clean energy, artificial intelligence, biomedical technologies, and transformative advances in agriculture—are elevating quality of life, strengthening human well-being, and shaping strategic pathways for the future of humanity.

The VinFuture Prize Ceremony and VinFuture Sci-Tech Week have evolved into an established global platform for scientific exchange, bringing together scientists, policymakers, and business leaders to advance collaborations toward a sustainable, humane, and prosperous future.

Notably, after five award seasons driven by persistent efforts to connect global scientific excellence with the Vietnamese research community, the VinFuture Foundation and the VinFuture Prize have not only fostered new opportunities and momentum for national science, but have also strengthened Vietnam’s standing as a trusted destination for the world’s scientific community—where innovation is widely shared and amplified for the collective prosperity of humankind.

Launch of the 2026 VinFuture Prize Award Season: The VinFuture Prize 2026 will officially open its nomination portal from 2:00 PM on January 9, 2026, to 2:00 PM on April 17, 2026 (Hanoi time, GMT+7). Nominating partners are invited to submit candidate information through the online nomination portal at: https://vinfutureprize.org/vinfuture-prize-nomination/.

Hashtag: #Vinfuture

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