Thinking About China
Opinion

The Collapse of China’s Luxury Watch Market Points to Shrinking Middle Class

China’s luxury consumers have largely pulled back from flashy, status-driven spending as economic pressures persist.
The Collapse of China’s Luxury Watch Market Points to Shrinking Middle Class
Rolex watches are on display in a shop window in Knightsbridge, London, on Nov. 27, 2017. Jack Taylor/Getty Images
Xiao Yi
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Commentary

Over the past decade, Swiss luxury watches, such as Rolex, Patek Philippe, and Audemars Piguet, have become more than just timepieces in China. They are seen as symbols of status, wealth, and success, especially among the growing middle class. However, this perception is changing.

Xiao Yi
Xiao Yi
Author
Xiao Yi is a China affairs commentator and finance expert with three decades of experience, having worked in China, South Korea, Thailand, and other Southeast Asian nations. He is currently based in London.