International brands incorporate Chinese elements into luxury goods to tap into the Year of the Dragon. In traditional Chinese culture, the dragon is an auspicious symbol that soars into the clouds and rides on the mist, and has a high status in the hearts of Chinese people.
The "China Luxury Goods Report" by Yaoke Research Institute shows that Chinese luxury goods consumption will reach 1.042 billion yuan in 2023, accounting for approximately 38% of globalluxury goods consumption. According to Bain & Company's "2023 China Luxury goods Market Report", looking forward to 2030, the proportion of mainland China's total global luxury goods Consumption will increase from 16% to 24%-26%.