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Foreign Brands Exit China Amid Changing Consumer Trends

1/12/2026

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Summary

Story summary

Foreign and Hong Kong brands are closing stores in Mainland China, underscoring difficulties adapting to consumer trends.
Lane Crawford plans to close its Chengdu outlet due to a mismatch between its high-end model and consumer preferences.
Ikea will shut seven mainland stores starting February 2 and focus on opening over ten small-format stores within two years.
Triumph Group International closed all physical stores in Mainland China.

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Story summary

Foreign and Hong Kong brands are closing stores in Mainland China, underscoring difficulties adapting to consumer trends.
Lane Crawford plans to close its Chengdu outlet due to a mismatch between its high-end model and consumer preferences.
Ikea will shut seven mainland stores starting February 2 and focus on opening over ten small-format stores within two years.
Triumph Group International closed all physical stores in Mainland China.