economy
February 14, 2026
Lunar New Year gives luxury brands a chance to win back big spenders in China
The Chinese luxury market is expected to turnaround this year, but Western brands can't afford to be complacent, analysts said.
TL;DR
- Luxury brands like Harry Winston, Chloé, Loewe, Gucci, and Loro Piana are releasing Lunar New Year collections, often featuring horse motifs for the Year of the Horse.
- The Chinese luxury market, once a primary driver for global sales, has seen a pullback but is showing signs of recovery after a contraction in recent years.
- Analysts predict stabilization and mid-single-digit growth for the Chinese luxury market in 2026.
- Brands need to go beyond literal interpretations of cultural symbols and create contemporary narratives to appeal to younger Chinese consumers.
- Chinese luxury consumers have become more discerning, with higher expectations from brands.
- The dynamic of luxury spending has shifted, with a significant increase in domestic spending compared to pre-pandemic levels.
- Successful engagement strategies include immersive experiences and weaving heritage with contemporary visions, rather than solely focusing on zodiac animals.
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