But with flights remaining limited after China's border reopening in January, European luxury stores will need to wait longer for the return of masses of tourists they once depended on for growth.

That may matter less to the bottom line of luxury firms than previously thought, although brands and investors are struggling to get a handle on the Chinese consumer recovery as domestic and overseas shopping habits shift after three unusual pandemic-hit years.

When it comes to high-end shopping overseas, retail industry executives and analysts say it may be more important to consider the type of Chinese visitors to Europe rather than just the numbers.

Air ticket prices from China to Europe are up to 80 percent more expensive than pre-pandemic, according to travel data firm ForwardKeys, and the number of travelers over the May holiday period was 64 percent lower than in 2019.

Those trickling back to Europe are mostly business travelers and wealthier people who have the means to travel "a bit differently", LVMH managing director Antonio Belloni said in an interview.

Chinese visitors to places like Paris and Milan now tend to be bigger spenders who are less sensitive to flight prices and more likely to secure visas because they can demonstrate larger amounts in their bank accounts, said Agility Research and Strategy Managing Director Amrita Banta.

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