{
  "id": 15344020,
  "title": "Western brands under pressure as 'pre-owned' luxury booms in China",
  "url": "https://urgent.news/2026/10/18/western-brands-under-pressure-as-pre-owned-luxury-booms-in-china-15344020",
  "topic": "world",
  "section": "World",
  "published": "2026-10-18T03:46:54.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/10/1558074/western-brands-under-pressure-pre-owned-luxury-booms-china"
  },
  "original_language": "en",
  "account": "Shanghai: As China's economy languishes in post-pandemic recovery, global fashion giants face dwindling demand from consumers flocking to the burgeoning second-hand market and local alternatives. Once the primary purchasers of luxury Western brands, Chinese shoppers now represent a shrinking slice of worldwide spending, with luxury firms like LVMH and Hermes losing billions. Louis Vuitton and Galeries Lafayette have shuttered a combined five stores in mainland China in recent years, reflecting the changing tides of consumer behavior. In a central Shanghai warehouse-style store, shoppers now compare who could secure the best deal rather than who splurged the most. Despite a 19% slump in luxury personal market spending in 2024, China's second-hand luxury market saw a 15-20% surge in 2025, reaching an estimated 38.4 billion yuan in sales, with projections of surpassing 100 billion yuan by 2030. Super Zhuanzhuan, a new Shanghai store, requires patrons to wear black gloves to prevent greasy fingertips from damaging the items. Formerly idolized, the Louis Vuitton monogram now appears dated to Gen Z consumers who prefer trendy Korean brands. Luxury brands must adapt to a rapidly evolving retail landscape, where digital/social media influence and cultural nuances significantly impact consumer perceptions. Foreign brands must invest in relevance to survive the shifting tides of Chinese luxury retail.",
  "summary": "SHANGHAI: 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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Western brands under pressure as 'pre-owned' luxury booms in China",
        "url": "https://urgent.news/2026/10/18/western-brands-under-pressure-as-pre-owned-luxury-booms-in-china",
        "published": "2026-10-18T03:40:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}