Douyin Luxury Gravitational Center - 2023 Douyin Luxury Industry White Paper

 In 1992, LOUIS VUITTON opened its first store in mainland China at the Peninsula Hotel Beijing.and Cartier opened the first watch counter on Nanjing Road in Shanghai that the same year. Fastforward over three decades, and China has evolved into a pivotal player in the global luxurymarket. Consumers have deepened their appreciation for luxury goods. After a brief dip in 2022we expect China to continue its leading role in 2023, propelling the market to a size of RMB 580billion, with an impressive growth rate of 18%









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