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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 in**@***-i.com.

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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Desert Diamond Hues Take Centre Stage On The Red Carpet At The 79th British Academy Film Awards

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LONDON, UK – Media OutReach Newswire – 2 March 2026 – At this year’s British Academy Film Awards, the red carpet was illuminated with natural diamonds worn by some of the acting world’s most beloved stars, with Desert diamonds reigning supreme.

Desert diamond hues take centre stage on the red carpet at the 79th British Academy Film Awards. From top left to bottom right: Nathalie Emmanuel, Gillian Anderson, Archie Madekwe, Audrey Nuna, Regé-Jean Page

In evocative shades of champagne, honey, cognac, brown, and whiskey, these unique colours were seen on some of our most beloved actors and actresses- showcased in an exquisite array of cuts and designs, they blended timeless elegance with contemporary style.

Gillian Anderson, together with Nathalie Emmanuel, led the Desert diamond way with striking diamonds by Brazilian jeweller Ara Vartanian. Gillian woreasymmetric stone earrings featuring exceptional brown and white diamonds with complementing rings, whilst Nathalie wore an elongated drop earrings punctuated with brown diamonds, a bracelet and rings. K-Pop Demon Hunter star Audrey Nuna wore Desert diamond ear climbers from ANANYA.

Once reserved for jewellery boxes, brooches have become a go-to on the red carpet amongst the most decerning of wearers- Rising Star nominee Archie Madekwe paired his custom Dior suit with Ara Vartanian white diamond brooch and Desert diamond vintage rings whilst Regé-Jean Page looked to fauna as his inspiration in a Desert diamond dragonfly brooch by Hirsh London.

Poppy Delevingne attended the British Vogue and GǪ Fashion and Film Party adorned in Desert diamonds by Ara Vartanian
Poppy Delevingne attended the British Vogue and GǪ Fashion and Film Party adorned in Desert diamonds by Ara Vartanian

Actress and Model Poppy Delevingne attended the British Vogue and GǪ Fashion and Film Party adorned in Desert diamonds by Ara Vartanian.

For the occasion, Poppy chose to wear a curated selection of pieces in Desert diamond hues, included a striking necklace from the new Empirea collection, set with 17.34 carats of brown diamonds.

These extraordinary moments on the red carpet remind us that natural diamonds are born of the wild, their enduring beauty and unique nature express both style and glamour, as well as timelessness and cultural legacy.

#adiamondisforever #naturaldiamonds #diamonds #BAFTA #DesertDiamonds

Hashtag: #DeBeersGroup #NaturalDiamonds #diamonds #Desertdiamonds #BAFTA #adiamondisforever




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About De Beers Group

Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services via De Beers Institute of Diamonds and a wide range of diamond sorting, detection and classification technology systems via De Beers Group Ignite. De Beers Group is committed to ‘Building Forever,’ a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal

opportunities for all. De Beers Group is a member of the Anglo American PLC group. For further information, visit www.debeersgroup.com.

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Huawei to Announce the Open Source Project of A2A-T Software, Boosting the application of agent communication standards

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BARCELONA, SPAIN – Media OutReach Newswire – 1 March 2026 – On the eve of the 2026 Mobile World Congress (MWC 2026), Huawei announced that it will officially launch the open source project for the A2A-T (Agent-to-Agent for Telecom) protocol supporting software during the event. This initiative aims to accelerate the global adoption and practice of telecom-grade agent-communication standards through open collaboration, and to jointly build an open, collaborative, and prosperous Agentic Internet era.

A2A-T Framework

With the rapid development of artificial intelligence, highly Autonomous Networks are becoming a crucial direction for the communications industry, and the importance of industry collaboration is increasingly prominent. To this end, the A2A-T protocol, including the IG1453 beta version and the enhanced prompt meta-model IG1453A, was jointly released by global telecommunications industry partners at the TM Forum Accelerate Week on February 6, 2026. It aims to provide a unified interaction framework for multi-agent collaboration, addressing challenges faced by operators in automated production, such as collaboration efficiency, reliability, and security.

As a standardized agent interaction protocol, A2A-T marks a new stage in agent interaction, unlocking three major industry breakthroughs: a revolutionary improvement in integration efficiency, reducing the system integration cycle from “months” to “days”. Breaking the boundaries of task collaboration to support complex cross-domain, cross-vendor workflows; and accelerating industry ecosystem convergence by lowering interconnection barriers through unified standards, fostering a sustainable collaborative ecosystem.

While standards chart the course for the industry, open source is the optimal path to achieve widespread interoperability and rapid innovation. In line with the evolutionary consensus of the Autonomous Network industry, Huawei is going to open source the core supporting software for the A2A-T protocol, to practically propel this standard from industry consensus to global deployment.

This open source project will encompass key components for implementing the A2A-T protocol, including:

  • A2A-T Protocol SDK: Provides integration tools for standardized interaction between agents.
  • Registry Center: Enables authentication, addressing, and skill management for multiple agents.
  • Orchestration Center: Supports low-code/no-code visual workflow orchestration, with pre-built high-value solution packages.

More detailed information will be officially announced during MWC 2026 at the Global Autonomous Network Industry Summit​ (14:30~16:00, March 2, 2026, Sofitel Barcelona Skipper Hotel). We cordially invite global industry partners to attend the launch event on-site or follow the project’s progress through online channels, working together to promote the prosperity of the Agentic Internet.
Hashtag: #Huawei

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Huawei will release the Agentic Core solution to accelerate the commercial use of agent networks

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BARCELONA, SPAIN – Media OutReach Newswire – 1 March 2026 – Huawei will release the Agentic Core solution at MWC2026 Barcelona. This solution will leverage three engines—NE intelligence, network intelligence, and service intelligence—to address key challenges in the AI era, such as the sharp increase in traffic, differentiated network requirements, and new service monetization for operators, and promote the large-scale commercial use of intelligent network.

NE intelligence: As AI agents become a core capability of next-generation AI phones, the number of connected entities will increase tenfold, with connections extending from “humans” to physical AI (such as embodied robots and autonomous driving). This will require the introduction of key capabilities such as digital identity, agent registration and discovery, and A2A session management to build a low-latency, highly reliable network foundation, supporting the large-scale commercial deployment of physical AI.

Network intelligence: As service AI agents become more prevalent, they will generate diverse network experience requirements. For example, AI robots may require 100 Mbit/s bandwidth and 20 ms latency. Therefore, it is necessary to evolve from predefined rule networks to intent-driven networks, where network AI agents will understand the needs of different organizations, dynamically match resources, and implement a closed-loop process for policy generation, configuration, and delivery.

Service intelligence: Compared to OTT players, operators have more opportunities to provide inclusive intelligent services. Huawei supports operators’ service innovation through three key services, going beyond connectivity. AISF (Service Intelligence) will evolve from an interactive entry point to a full-featured personal assistant, integrating communication, content, and services. Communication experiences will shift toward immersive interactions, breaking through the boundaries of voice. The integration of computing and networks will continue to be commercialized, providing sustainable computing power support for AI inference and content generation.

Looking ahead, Huawei will continue to deepen the three-layer intelligent collaboration practice with operators, aiming to provide 7×24-hour inclusive intelligent connectivity, and work together to bring users a more efficient, convenient, and intelligent digital life, and create new value in the intelligent Internet era.
Hashtag: #Huawei

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