Why China Is Behind The Global Luxury Slowdown

economic crisis: 경제 위기
psychological: 정신적인
You had an economic crisis there and more importantly, a psychological crisis among young, wealthy consumers.

unemployment: 실업률
soar: 급증하다
Youth unemployment soared to over 20%.

take (something) by storm: 확 사로잡다, 큰 인기를 끌다
It’s taking the country by storm.

account for (something): (비율, 부분을) 차지하다
And by the way, ten years ago, China accounted for half of all luxury sales in the world.

gear toward (something): ~에 맞추다, ~을 대상으로 하다
The other companies that are doing well are those that market in a local language, in products that are geared toward a Chinese customer and that actually feel more like China brands.