Rebound, renewal and the fire horse

As China celebrates Lunar New Year 2026, what can we learn about the status of the country's luxury sector and its customers? Here, TONG Global's Commercial Director, Jack Porteous, shares his insights on what matters to the UHNW individual in China and how creative British luxury brands can capitalise on this

Burberry offered a different but equally revealing perspective. Its Lunar New Year film centred on movement and reunion, capturing moments of everyday travel and connection. While rooted in British heritage, the campaign felt aligned with both the rhythm of modern Chinese life and more traditional spring festival motifs, highlighting themes of togetherness and transition.

Both Loewe’s craft-led storytelling and Burberry’s cinematic approach suggests that Lunar New Year has become a platform for creative experimentation, where brands are embracing culture as a tool for brand evolution rather than simply as design inspiration for special edition products.

Perhaps the creative teams behind these campaigns have been inspired by the spirit of the Fire Horse. The Horse represents motion, exploration, and independence, and when in combination with the fire element the year is said to bring energy and momentum. After a period marked by restraint, the Fire Horse feels like a fitting metaphor for luxury’s renewed momentum in China: expressive, forward-moving and confident enough to take creative risks.

The symbolism of exploration is not only visible in festive campaigns, but also in China’s global luxury footprint: Bain estimates that 35% of Chinese luxury spend occurred outside of China in 2025. TONG’s bespoke survey for Walpole’s The State of Luxury London 2025 report, as well as conversations with Walpole members, confirm this rings true.

Findings from our research revealed that shopping remains a priority activity, but also highlighted the increasing focus on experience among HNWI travellers. For UK brands, this represents a significant opportunity. London continues to hold strong appeal for Chinese visitors, yet expectations around hospitality and service have evolved. Consumers are looking for seamless experiences that extend beyond retail, from private appointments and curated itineraries to culturally aware storytelling that bridges London and China.

What stands out to me in 2026 is a sense that brands are becoming more comfortable embracing complexity – and treating China as a more mature luxury market. Through acknowledging its diversity and cultural nuance, brands are moving into a new stage of localisation – evident in the way that they are leveraging partnerships, new content formats, and focusing on long-term engagement. For British luxury, this presents an opportunity to reinterpret the best of traditional craftsmanship, heritage and generational expertise through a contemporary lens, and embrace deeper collaboration and co-creation with China.

The conversations during this year’s Walpole Lunar New Year gathering revealed excitement for the future. Looking to the year ahead, the symbolism of the Fire Horse can act as an auspicious guide for British luxury – encouraging forward momentum, and allowing us to explore new creative paths.

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