Luxury brands have had a strong recovery in China since shops began to reopen there last spring. But in Europe and the United States finding new ways to connect with customers has helped them to mitigate last year's sales declines.

Analysts say that improving sales in those two regions should also help revenues this year. Sales in Europe and the United States accounted for 60% of the total in 2019, and should come in at just under 50% by 2025, consultancy Bain said.