DeWu, founded in 2015 by Jiangxi province-born billionaire Yang Bing as a platform to buy and resell sneakers, has become the beating heart of China’s vast luxury goods grey market, where products ...
Two of the world's biggest luxury brands may be sitting on a whopping €4.7 billion worth of unsold goods (around $5.1 billion at the current exchange rate). That's enough to make even the most ...
SHANGHAI, Oct 21 (Reuters) - China's second-hand and grey markets for luxury goods are booming, as price hikes from luxury brands in a weak economy are prompting some shoppers to look for cheaper ...
This peaked in the wake of the COVID-19 pandemic as ultra-high-net-worth and aspirational consumers amassed excess cash to spend on luxury goods. But the golden days of luxury shopping in China ...