‘A better deal and spent less’: Western brands under pressure as ‘pre-owned’ luxury booms in China

Hong Kong Free Press · 2026/10/19 上午1:20:53

With China’s economy still struggling to recover from the pandemic, even global fashion icons are beginning to feel the pinch as consumers turn instead to the second-hand market or buy upstart new homegrown brands. Chinese were once massive buyers of luxury Western brands, accounting for around a third of worldwide spending and earning firms such […]