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In China, It’s Time to Splurge Again, and the Luxury Industry Is Relieved



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This time last year, Shanghai — China’s capital of fashion and luxury — was in the throes of a ruthlessly enforced Covid lockdown. The city’s glittering high-end malls and avenues lined with flagship stores stood practically empty.Today it is a different story. Huge crowds on a recent weekend flocked to top retail destinations on or near Nanjing Road, the hub of glamour in China ever since the country’s first large department stores began to open there in 1917.“I splurge more extravagantly,” Sunny Zhang, 24, said as she waited in line to enter the Chanel store at Plaza 66 mall, where the corridors are lined with shops selling some of the world’s most expensive apparel. Ms. Zhang, who works for a consulting firm, used to buy six handbags a year. Now, she purchases up to five handbags a month.“I change my handbag every day,” Ms Zhang added. “I felt that everything was meaningle …

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