china may not be losing its appetite for luxury. it may be getting bored.

china hasn't lost its appetite for luxury, but it may be getting bored with the way luxury keeps repeating itself.

i joined the BoF × McKinsey webinar today around their latest luxury client report. good data. but the china part kept bringing me back to this.

another bag. another drop. another private event. another "if you know, you know". many still work. but more and more are starting to look alike.

and china makes this especially visible. the report still finds the physical store is the leading source of inspiration, while bespoke service remains central to exclusivity. but when every brand has the flagship, the clienteling, the special event... what still feels special?

which made me wonder where desire goes next. maybe towards things that don't look much like luxury today: better health, more time, more space, perhaps entirely new categories we don't yet put under "luxury".

desire has a habit of moving on.