LVMH bets on China: major openings in Beijing and a new Dior in Shanghai to revive luxury

The group led by Bernard Arnault is preparing for a dazzling December with the opening of four flagship stores in the capital and plans for a new Dior boutique in the heart of Shanghai. After months of uncertainty, the Chinese luxury market is showing the first signs of recovery.

The French luxury giant LVMH is betting on China to reignite the sector’s rebound. According to sources close to the company, the group founded by Bernard Arnault will open in December four new multi-story flagship stores in Beijing, dedicated to Louis Vuitton, Dior, Tiffany, and Loro Piana. The openings—set inside the high-end Taikoo Li Sanlitun complex—represent one of the group’s most ambitious retail projects in recent years and mark a return to confidence after a period of sluggish sales.

Construction, which began in 2023, had slowed during the Chinese luxury market downturn, which last year saw a decline of up to 20%. Today, however, signs of recovery are multiplying: in the third quarter, LVMH returned to growth, while rivals such as Kering also reported better-than-expected results.

But the group’s ambitions don’t stop in Beijing. LVMH is in talks with Swire Properties to open a new Dior store in Shanghai, within the prestigious HKRI Taikoo Hui center—already home to a spectacular Louis Vuitton flagship that opened in June. The new space, expected to launch in 2027, will rise next to the cruise-ship-shaped store that doubled the mall’s sales in the third quarter.

The expansion is part of a broader strategy combining retail and experience: the Louis Vuitton store in Shanghai includes a café and an exhibition area, in line with the experiential luxury trend that aims to engage customers through art, culture, and lifestyle.

Swire, a key partner of LVMH, is meanwhile expanding Zhangyuan—a historic complex transformed into a cultural and commercial hub in central Shanghai—where several of the group’s brands, from Tiffany to Bvlgari, have already hosted exhibitions and installations. The expansion, expected to be completed by 2026, will house new spaces for Arnault’s maisons, strengthening the group’s presence in a market that, after months of uncertainty, is finally shining again.

Andrea Pelucchi