Affluent Chinese consumers are expected to splurge, though a volatile property market and oil price shocks pose challenges, analysts say.

Luxury is back. Following a relatively stagnant 2025, the industry is forecast to accelerate in 2026, with China’s long-awaited recovery emerging as a pivotal factor, even as the war in Iran casts a shadow over global markets, according to analysts. Estimates vary, but HSBC, Deutsche Bank and BNP Paribas all forecast global sales growth ranging from 5.5 to 6 per cent this year. “We believe it is time to look at the sector, as we think the organic sales growth rate should further accelerate in…

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