Louis Vuitton China city Wuhan, China India France city Guangzhou covid-19 2020 travelers Louis Vuitton China city Wuhan, China India France city Guangzhou

Will revenge buying save the Indian luxury market?

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Recent trends in luxury buying in China show a shift towards demure luxury and safe shopping experiences In April, as the lockdown eased in Wuhan, China, and its citizens began to come out of isolation, market watchers noticed a curious phenomenon: Sales of luxury items were skyrocketing.

Within a few days of reopening on 7 April, French brand Hermès’ Guangzhou flagship store reported sales worth $2.7 million (around ₹20 crore now).

Gucci, Prada, Louis Vuitton and Estee Lauder reported a similar trend from that country. This behaviour, known as baofuxing xiaofei, or “revenge buying", has become a buzzword in the luxury segment.

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