LVMH is preparing to open major stores in China this December as luxury demand shows early signs of recovery in the world’s second-largest economy. Four of its labels—Louis Vuitton, Dior, Tiffany, and Loro Piana—are set to launch multistory stores in Beijing after years of development.
The company is also in discussions with Swire Properties to open a new Christian Dior store in Shanghai, potentially by 2027, located in the HKRI Taikoo Hui mall. This move follows a period of slow construction progress caused by a slump in luxury sales but signals confidence in a rebounding market.
LVMH’s expansion coincides with signs that China’s luxury market slowdown may be easing. The group returned to growth in the third quarter, while competitors like Gucci owner Kering reported smaller sales declines. The new Beijing stores will be a key test of this positive momentum.
The upcoming Dior store in Shanghai will be near Louis Vuitton’s new 17,000-square-foot flagship, designed to resemble a cruise ship. Opened in June, this space significantly boosted the mall’s retail sales and generated social media buzz.
Outside store expansions, LVMH is reportedly considering further collaborations with Swire, including both permanent and temporary retail spaces and large-scale events.
The partnership builds on a strong rebound at Swire’s major malls in Beijing and Shanghai, which returned to year-on-year growth in the first nine months of this year. HKRI Taikoo Hui’s retail sales jumped about 42% over the same period, compared with a 21% decline a year earlier — growth driven by the Louis Vuitton opening.
Swire is also expanding Zhangyuan, a nearby 143-year-old heritage compound that will become a cultural and shopping destination.
The redevelopment, scheduled for completion in late 2026, is expected to host additional LVMH presences. Louis Vuitton already operates an exhibition space there, and other group brands such as Tiffany and Bulgari have held temporary exhibitions on the site.
While LVMH declined to comment, industry observers say its latest moves underscore a renewed belief that China’s appetite for luxury is returning. For both LVMH and its retail partners, the coming months will reveal whether that optimism is justified.
Bloomberg
