Lunar New Year is one of China’s biggest shopping holidays, and global luxury brands are using the 15-day celebration to try to reignite slowing demand. China accounted for more than one-third of global luxury spending in 2019, but that share dropped to 23% in 2025. As consumers welcome the Year of the Horse, brands like Gucci, Hermès and Celine are leaning into their signature equestrian-inspired designs and heritage motifs to reconnect with Chinese shoppers and drive sales.