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Nikkei

Millennials inject new vigor into China's luxury market

Millennials inject new vigor into China's luxury market

  • February 13, 2018
  • min read

Nikkei

Millennials inject new vigor into China's luxury market

While growth in luxury spending in Japan and elsewhere has been linked to the wealth effect that accompanies rising stock prices, this does not seem to be the driving factor in China. Rather, it was "Chinese millennials" aged 20 to 34 who "helped accelerate luxury spending here, particularly in the last year," according to Bruno Lannes, a partner with Bain & Company.