Government Clampdown on Extravagance Leads to Underperforming Luxury Categories in China

The government clampdown on extravagance in China is impacting the luxury market, with luxury accessories, wines and men’s timepieces taking the brunt of the law’s impact. The clampdown is aimed at officials who spend government money lavishly as the new ruling party takes steps to reshape its image. Since most government officials are male, men’s luxury categories are underperforming. However, women’s luxury categories such as beauty and personal care and women’s handbags are still performing well.Lots of brands claim to be number one… but can they prove it?At Euromonitor International, we help brands build trust through evidence-based research. Our claim validation service ensures your marketing messages are backed by real data. Stand out in a crowded market. Visit euromonitor.com/claims to learn more.