Western luxury loses ground in China as second-hand market booms

FinanceInternationalUDG TVOct 25, 2026, 9:00 AM45 s readAI summary

With China's economy not fully recovered from the pandemic, Western luxury brands are feeling the pressure as consumers increasingly opt for second-hand goods or new brands. The personal luxury market in mainland China contracted between 3% and 5% in 2025, after plunging 19% in 2024, according to Bain & Company, while the second-hand luxury market grew between 15% and 20%. Louis Vuitton closed five stores in mainland China over the past two years.

In 45 seconds

Personal luxury in mainland China fell between 3% and 5% in 2025, after a 19% plunge in 2024, according to Bain & Company
The second-hand market grew between 15% and 20% in 2025 and reached sales of 38.4 billion yuan (about 5.7 billion dollars), according to Insight & Info Consulting
Louis Vuitton closed five stores in mainland China over the past two years and Galeries Lafayette shut its Beijing branch in May

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IASummary generated by artificial intelligence from a story by UDG TV. It may contain errors: the original source prevails.

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China
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Western luxury loses ground in China as second-hand market booms

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