CX Daily: Luxury Brands Cut Price of Exclusivity as Chinese Spending Drops

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Luxury /

Luxury brands cut price of exclusivity as Chinese spending drops

On a recent spring afternoon, models paraded Louis Vuitton’s latest collection inside the French brand’s Beijing flagship store, to the clink of champagne flutes and polite applause from a select batch of clients.

These private fashion shows — known as VIC, or “very important client,” events — were once reserved for only the biggest spenders. Today, they’re being deployed by luxury brands more often, and the bar to entry is lower.