“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.
Chinese consumers have fuelled growth in the global luxury market for decades. But their spending has become more measured and experience-focused in recent years, leading to a decline in overall consumption for the sector.
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.
