Western high-end brands have been actively strengthening their presence in Asia throughout the years, reflecting the region’s growing importance in the global luxury market. 

From setting up premier stores and immersive boutiques to launching specialised customer-facing initiatives, these retail powerhouses are aiming to capture the fancy of affluent Asians – the world’s next big luxury consumer.

At the height of the Covid-19 pandemic in 2020, Chanel unveiled its first Very Important Client (VIC) salons in China. These were offered as more discreet, invitation-only spaces serving ultra-high-net-worth customers during lockdowns when physical stores were forced to temporarily halt operations. 

The initiative proved successful, leading to expansions in 2023, with operations scaled to Shenzhen, Guangzhou, Hangzhou and other cities.   

VIC salons' focus on privacy, exclusivity, and personalised services such as private fittings, collection previews and intimate events perfectly embodies the essence of "quiet luxury," redefining true elegance as understated and intrinsic.

Meanwhile, Moët Hennessy Louis Vuitton (LVMH) established multisensory, hyper-physical Louis Vuitton flagship stores in Seoul and Beijing in 2025, aimed at transforming the shopping experience into a cultural, architectural and hospitality-led journey.

The multilevel Maison Louis Vuitton Sanlitun in Beijing offers the brand’s complete luxury portfolio including jewellery alongside clothing, shoes and perfume. Watch and jewellery collections are also front and centre at LV The Place Seoul.

In addition, LVMH-owned Dior and Tiffany & Co opened standalone multilevel stores in Sanlitun in December 2025 and January 2026, respectively, mirroring the grandeur and sensory-rich attributes of the Louis Vuitton shops.

The concept is not entirely new as the phrase “experiential retail” has been around for quite some time. LVMH, however, set the bar higher with the scale by which its new immersive and synergistic stores were conceptualised and constructed. 

Vhernier, which was acquired by luxury conglomerate Richemont in 2024, expanded its presence in Asia with the opening of its first regional boutique in Hong Kong late last year, marking a strategic entry into one of the world’s key luxury retail markets. 

Abbraccio earrings in rose gold by Vhernier
 

Hong Kong was a logical and strategic move for the jeweller, which has made solid connections with clients from Hong Kong and across Asia over the years in its stores in Milan and Paris, to name a few. 

More recently, Buccellati opened its third boutique at Galaxy Promenade in Macau – its largest boutique in the Asia-Pacific region to date. According to the Italian jeweller, the
expansion marks the brand’s flourishing presence across Asia and reaffirms its status among discerning collectors.

The rise of the Asian luxury consumer

According to a report by Bain & Co and Altagamma, the global luxury market has been stabilising amid economic and geopolitical uncertainties, with the sector seeing a structural shift towards experiences over possessions. Total luxury spending is likely to have reached approximately €1.44 trillion (around US$1.68 trillion) in 2025.

The personal luxury goods segment, which includes jewellery, is expected to remain broadly stable, with a forecast 2025 value of €358 billion (approximately US$419 billion), down about 2 per cent from 2024. 

Jewellery currently leads growth, with an expected expansion of 4 to 6 per cent in 2025, powered by resilient demand, emotional appeal and a surge in customisable designs. 

Claudia D’Arpizio, Bain & Co senior partner and head of the firm’s global Fashion & Luxury practice, and lead author of the study, said, “Ahead lies a phase of quality-driven growth, fuelled by discipline, ethics and innovation. Expansion will favour fewer, higher-impact locations – a shift toward a more discerning, experience-led model.”

Fresh markets are expected to fuel luxury’s next chapter, revealed the Bain-Altagamma study, released in November 2025.

Iconic diamond rings by Tiffany & Co
 

Beyond the traditional hubs of the US, Europe and China, a new wave of markets is redefining the luxury landscape, it added. The Middle East, Latin America, Southeast Asia, India and Africa combined represent a market value of around €45 billion (around US$53 billion) in 2025, matching mainland China in scale. 

“From Gen Z’s embrace of accessible luxury in Southeast Asia to India’s surging middle class and Africa’s emerging local players, these regions signal growing luxury potential,” remarked Bain and Altagamma.

Isabella Traglio, Vhernier’s head of Design and R&D, attested to the growing appreciation for Italian-made jewellery in Asia.

“Asians have a deep respect for artisanal skill and a passion for design that transcends trends,” shared Traglio. “Vhernier is rooted in Milan, the global capital of design, and embodies the essence of Milanese elegance through its refined aesthetic that champions simplicity, function and subtlety.”

Vhernier’s customers come from diverse backgrounds but share a common thread of confidence and individuality, she added. Particularly, women who wear Vhernier embody self-assurance, grace and natural charisma. 

These are individuals who have a deep appreciation for design and architecture, seeking beauty in all its forms. They tend to avoid overt branding, preferring instead to curate a personal style that reflects their refined taste and elegance.

While many of its clients are connoisseurs, the jeweller is seeing a growing interest from younger generations who are increasingly becoming eager to express their individuality through distinctive creations that make a personal statement. 

“Younger buyers value craftsmanship, originality and the ability to stand out, and we are thrilled to see how our jewellery resonates with them across generations,” said Traglio.

Moving forward, Vhernier will aim to consolidate its international presence while maintaining its distinctive identity and sculptural style. Simultaneously, the jeweller is eyeing to launch new iterations of its iconic collections while continuing to celebrate creativity with new sculptural designs. 

“We will continue researching innovative shapes, techniques and materials, blending our signature materials – rose gold and pavé diamonds – with more unusual metals, infusing more modernity to the world of jewellery,” she remarked.

Calla necklace in ebony and rose gold by Vhernier