According to Zhixun Finance APP, Bvlgari CEO Jean-Christophe Babin stated that with the rebound of the Chinese economy, the luxury goods market in China may recover in the next 24 months.

During an interview at the China International Import Expo held in Shanghai on Wednesday, Babin stated that the jewelry retailer under LVMH has experienced a significant decline in physical store sales in China this year, while online channels can reach more customers, including those in small cities.

At the time of his statement, from Swiss watchmakers to fashion brands, luxury giants are all striving to attract Chinese consumers. China, as the world's second-largest economy, has long been the cornerstone of global retailers.

In the third quarter, LVMH's sales in the Asian region, including China, dropped by 16%, exceeding the 14% decline in the previous three months. Kering Group warned that its annual profit would fall to the lowest level since 2016, with its core brand Gucci experiencing a 25% drop in comparable sales in the third quarter.

Earlier this year, Babin stated that Bvlgari focuses on the more stable women's watch market, and most of the components such as the case, dial, and movement are self-produced, enabling them to adjust production and weather periods of declining demand.