Brands raise prices, consumers raise cultural identity

LV, Hermes and other high end luxury brands are all set to raise prices further in China and yet the demand for their products continues to soar. Why?

The immediate reasons could be the end of the COVID-19 pandemic, and consumers indulging in "revenge shopping" with the money they have saved during the three years of the pandemic.

But perhaps there is more to this continued increase in luxury goods' consumption in China?