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  Shares of LVMH, the owner of Louis Vuitton, and Prada are trading at unusually steep discounts to mass-market companies such as Zara and H&M. And investors are in no rush to take advantage of the lower prices, worried that the best days for the luxury industry may be behind it, The Wall Street Journal reports...

• From Patek Philippe to F.P. Journe: Goldman Sachs Teaches the Wealthy How to Buy Watches as Works of Art

  Luxury watches are increasingly evolving from status symbols into fully fledged investment assets, almost on a par with works of art and other collectibles. Goldman Sachs has published its first dedicated guide to buying and collecting high-end watches and jewelry, effectively acknowledging the growing interest in these categories among wealthy clients, according to Robb Report...

• Luxury With a Criminal Past: Cartier Rings, Hermès Bags and Louis Vuitton Items Go Under the Hammer After a $2.4 Billion Scandal

  One of the largest money-laundering investigations in history has left Singaporean authorities facing a multibillion-dollar question: what should be done with the cars, real estate and thousands of luxury items seized from a criminal network...

• Luxury Loses Its Shine: Middle East War Deepens Crisis in Global Luxury Market

  Behind the spectacular shows of the world’s biggest fashion houses in Milan and Paris lies a troubling picture: the global luxury market continues to slow, while the war in the Middle East appears to be making matters even worse, Reuters reports...

• The French Way to Live Like a Dog: Goyard Unveils a $49,000 Luxury Dog House

  Goyard has completely redefined the expression “a dog’s life.” Once associated with hardship, deprivation and endless toil, it can now mean something entirely different: living in a personal 21-kilogram mansion decked out in Goyard’s signature aesthetic...

• Labubu Meets LVMH: Pop Mart Opens Flagship Store in Paris

  Chinese collectible designer-toy maker Pop Mart International is continuing its aggressive global expansion despite some cooling in overseas sales. The company has announced the opening of its first European flagship store in Paris, on the prestigious Boulevard Haussmann, next door to the iconic department stores Galeries Lafayette and Printemps, according to the South China Morning Post...

• Buying century-old trees is the new status symbol among billionaires

  Today’s super-rich don’t want to spend years waiting for saplings to grow. The luxury landscaping industry is booming with a new obsession: transplanting enormous mature trees — from oaks and palms to baobabs and magnolias — directly into the estates of the wealthy, The New York Times reports...

• “Wealth Has Turned Into a Zoo”: Why Luxury Travel Is Starting to Rebel Against The White Lotus

  Few television shows have had as profound an impact on the luxury travel industry as The White Lotus. Each new season sends viewers rushing to book the real-life hotels featured on screen, turning secluded resorts into must-visit destinations almost overnight...

A decade after Italy’s Prada listed in Hong Kong, Chinese high-fashion brand Icicle is now considering a public offering in Paris. This move reflects China’s transformation from a hub of cheap knockoffs into a center of innovation — from BYD electric vehicles and AI startups like DeepSeek to the globally popular Labubu toys, according to the Financial Times.

Homegrown luxury is fueled by government initiatives promoting guochao — the “national trend” — and growing cultural confidence. China chic now spans all markers of status consumption: fashion, jewelry, luxury cars, and fine wines. Hongqi vehicles, once reserved for communist leaders, now ferry the country’s billionaires.

This evolution poses a challenge for European luxury houses. First, Chinese products are competitively priced. In a sluggish economy with tough prospects for young professionals, spending around $500 on a Songmont handbag is a smarter choice than paying ten times that for a European label.

Business models are leaner, too — there’s no need for flagship stores on Milan or Paris’s priciest streets, and mall space is cheaper. Chinese brands are also willing to sacrifice margin: Bernstein estimates retail markups of four to five times the cost of goods sold, roughly half the multiple of European rivals.

Second, Chinese companies emphasize local heritage, incorporating traditional motifs into jewelry and historical design into furniture. This resonates with growing cultural and historical interest — for example, museum attendance over the May holidays rose 17% last year.

Third, domestic success gives Chinese brands a competitive edge abroad. While their international presence is still modest, some have begun to expand: Bosideng operates a London flagship and sells in France, while BYD demonstrates the potential of a Chinese challenger reaching global scale.

Foreign luxury groups have also invested early in Chinese brands. Exor, the Agnelli family holding, acquired Hermes’ stake in Shang Xia in 2020. LVMH owns winery Ao Yun, and Kering, Gucci’s parent, bought jewelry brand Qeelin in 2012.

Chinese companies remain relatively small, but growth is rapid. Laopu Gold, a fast-rising jewelry house, now has a market capitalization of nearly $18 billion — up from under $1 billion in 2024. Including potential acquisition premiums, this easily surpasses the inflation-adjusted price LVMH paid for Tiffany six years ago. European competitors can no longer afford to ignore the rising influence of Chinese luxury.

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