Agenda-setting intelligence, analysis and advice for the global fashion community.
In China, despite a market slowdown following the Covid-19 pandemic, high-net-worth consumers’ intent to spend on luxury fashion in 2026 reached 34 percent versus 27 percent globally on average, according to The Business of Fashion (BoF) and McKinsey & Co.’s The State of Fashion 2026 report.
In this landscape, Chinese high-net-worth individuals (HNWIs) prize exclusivity and innovation, gravitating towards brands that balance recognisable heritage design codes with elevated retail environments.
Experiential luxury in China is also uniquely connected to service and relationship-building. BoF and McKinsey & Co’s The State of Fashion: Face to Face With Luxury Clients report states that interest in private shopping and VIP events is strong and rises sharply with affluence — reflecting growing expectations around personalised service, convenience and high-touch clienteling.
One destination uniquely positioned to capture this demand is Macao.
The city welcomed a record-breaking 40 million visitors in 2025, representing a 14.7 percent increase from 2024, with mainland China as the largest source market, according to Macao’s Government Tourism Office. Tourists from South Korea and the Philippines were the next most frequent visitors, while arrivals from Thailand increased by nearly 60 percent year-on-year between January and April 2025.
Macao is also evolving from a casino-led economy into a modern luxury retail hub rooted in heritage and designed with VICs (very important customers) in mind. In the first quarter of 2026, total non-gambling spending jumped a quarter year-on-year to a record MOP24.43 billion ($3 billion), according to data compiled by Macao’s Statistics and Census Service.
While the wider luxury segment navigates global volatility, Sands Shoppes Macao — which operates flagship properties including Shoppes at Venetian, Shoppes at Londoner, Shoppes at Parisian and Shoppes at Four Seasons — said it achieved its highest-ever quarterly sales in history in Q1 2026. The group says its Shoppes at Four Seasons mall generated tenant sales of about $5,670 per square foot in Q2 of 2026.
To mark the reopening of its flagship store in November 2025, Louis Vuitton took over The Londoner Macao’s Arena to host the brand’s first-ever fashion show in Macao. This comes at an opportune time: 35 percent of Chinese luxury clients surveyed by BoF and McKinsey & Co. expressed interest in fashion shows or runway events.
Tapping into the city’s economic success with a renewed focus on service, Cartier expanded its boutique at the Shoppes at Four Seasons and, in June 2026, introduced a new retail-hospitality format featuring the city’s first open Cartier salon and bar, along with two private VIP salons. In Cartier’s boutiques, salons are dedicated spaces where clients can browse fine jewellery, watches and high-value pieces in a more intimate setting, with personalised service and private consultations.
David Sylvester is the president of global retail at Las Vegas Sands Corp., overseeing the retail components across five properties in Macau and Singapore. Now, BoF sits down with Sylvester to discuss the evolution of Macao’s luxury consumer and how the group is repositioning Macao as a global luxury shopping destination.
How would you describe the affluent Chinese consumer visiting Macao today?
I have been in this market for 20 years now and have seen significant shifts. The Chinese customer is sophisticated — they now want curated services and are increasingly discerning. They are not buying as much, opting for limited lines, while seeking something special and unique.
Since the end of Covid-19, we’re seeing that Chinese consumers are coming to Macao for more than just shopping. They are staying for several days, booking restaurants and enjoying themselves and the broader luxury experience.
What makes Macao’s luxury market distinct in today’s global environment?
Macao is an integrated resort model town – with casino, hotel, retail, entertainment and MICE (meetings, incentives, conventions and exhibitions) properties. Although it is similar to Las Vegas, we offer a higher-end, more immersive luxury experience, which Asian shoppers are looking for.
When visiting Sands Shoppes Macao, apart from shopping malls, visitors have access to 11,000 luxury hotel rooms and suites, over 150 dining options including award-winning restaurants, limousine fleets and, as part of our entertainment, a total of 25,000 seats across two arenas and three theatres. When a retailer joins one of our integrated resorts, they enter a whole luxury ecosystem.
The Chinese customer is sophisticated — they want curated services and are increasingly discerning.
Guests staying at our hotels are attended by butlers, who are expertly trained in retail. This enables them to seamlessly introduce visitors to our VIC shopping programme, “Discover Sands Shoppes”, where dedicated personal shoppers and impeccable white-glove services craft a bespoke shopping journey.
What are the biggest opportunities for Macao to strengthen its role as a global retail destination?
What our customers want is a more bespoke, curated experience. That’s our direction now. We are setting up VIC areas, which include food and beverage services. We are offering our guests unique experiences — from watchmaking masterclasses at Audemars Piguet’s AP House and private collection previews at major fashion houses like Chanel, Dior and Louis Vuitton, to bespoke made-to-measure fittings with prestigious Italian tailors, gemstone appreciation workshops and custom perfume creations.
Ultimately, by offering a wide variety of personalised experiences – spanning luxury, lifestyle, dining and overall wellbeing – we are creating something truly extraordinary that our guests would not normally see in their hometown.
As the largest operator in the market, we really see Macao as a huge opportunity for retailers. It’s no longer a minor market for many retail players — it is a significant pillar of the APAC region.
Why should global brands look to Macao to host large-scale brand experiences, such as the Louis Vuitton fashion show?
That Louis Vuitton held its fashion show here is a testament to Macao’s growing significance as a luxury destination. Attendees included celebrities, key influencers and VICs — it was really targeted at the brand’s customer base.
We want to do more of these major shows, and we’re in discussions with other brands to increase the number of them, as well as to create other experiences in high jewellery and fine dining.
Macao is no longer a minor market for many retail players; it is a significant pillar of the APAC region.
The real advantage is our extensive infrastructure. If you stage a show, we can book all the hotel rooms, organise the transport and arrange the meals and various cultural and leisure activities — it’s a one-stop luxury hub.
How do you create an experience in Macao that feels distinct from other global luxury hubs?
For our high-end customers, we aim to create experiences they won’t find anywhere else. Our next evolution is expanding our VIC salons. We know high-end customers want to book an appointment, come in and have everything lined up in the right sizes for them.
Again — it’s about the experience. They want to spend half a day there, drinking champagne, trying on items, having pictures taken by staff and sharing them with their friends. It’s more of an outing and a social occasion.
With our VIC rollout over the next two to three years, we will create some really special spaces and experiences. We are developing exhibitions, food experiences and content. We have seen Louis Vuitton, Dior and other luxury brands open their own restaurants as part of their luxury retail offering. We’re hoping to do that as well.
What is the next phase of growth for Sands Shoppes Macao?
We are creating new and evolved spaces with a number of brands in Shoppes at Four Seasons, with the new expansion area opening in Q4 2026 and Shoppes at Londoner.
We are going to offer more experiential content, such as exhibition spaces and luxury-brand food and beverage experiences. We’re talking with brands at the moment about creating major flagship stores at Shoppes at Londoner that will have less retail space but much more experiential content.
Audemars Piguet’s AP House is one of the first examples at Shoppes at Four Seasons, where customers can learn how to assemble watches, experience exhibitions, wine and dine and much more.
We want brands to give customers the opportunity to understand what happens behind the scenes. We work with retailers to organise curated trips to Europe, featuring private visits to brand museums and factories, exclusive access to restaurants and made-to-measure services, as we do with luxury brands such as Brunello Cucinelli, Ferragamo, Prada and more. It’s about showing customers what goes into making the products they buy in-store and about experiencing more of the brand’s DNA.
This is a sponsored feature paid for by Sands Retail as part of a BoF partnership.
