SKP Group achieved a 15% increase in turnover despite persistent economic headwinds in China’s luxury market. SKP Beijing, the group’s flagship, reversed its previous year’s decline with a 6.8% gain, reaching RMB23.5bn ($3.4bn). This rebound followed a challenging 2024, when turnover had dropped by 17%. The group’s ongoing expansion, including the opening of new mega-flagship stores such as Louis Vuitton and Miu Miu at SKP Wuhan, highlights a strategic focus on developer-managed, experience-driven retail environments. These efforts come as China’s luxury sector faces contraction, with overall market declines reported by Bain, but also signs of stabilisation and recovery in the latter half of 2025.