"The global luxury market is pinning its hope on a swift recovery of the China retail market, a key driver of growth and one of, if not the, biggest market in the world. As life starts to get back to normal, albeit with some virus prevention measures remaining in place, shopping malls around the country reopened and resumed close to full operations starting in April. Over the five-day May holiday period, landlords and retailers implemented extensive promotional campaigns to stimulate sales. LVMH and L’Oréal have already reported positive year-on-year (YOY) sales growth in China."