(jingdaily.com) - Luxury brands are no strangers to the Middle East market, with the likes of Dubai and Abu Dhabi establishing themselves as magnets for high-end names in recent decades. Yet these markets have remained largely in the shadow of other top luxury markets like China — which over the past 15 years has carved out a crucial position in luxury retail. This year, mainland China’s luxury consumption is poised to return to positive growth, following a COVID-impacted 2022 that saw the market decline 10 percent year-over-year (its first such drop in five years). However, widespread concerns about the health of global luxury demand are pushing a growing number of brands to reconceptualize their China strategy.
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