China, as the global center of luxury consumption, is receiving increasing attention although there has been a contraction in the global economy and in consumer sentiment in recent years. However, there is a lack of research on Chinese consumers’ lifestyle which can effectively explain their psychology and behavior as well as significantly impact on their luxury consumption desire and purchase intention. The purpose of this research is not only to classify the lifestyle of Chinese consumers but also to investigate its relationship to luxury consumption. This paper analyzed questionnaire survey of 321 Chinese consumers in their 20s and classified their lifestyles by the dimensions of clothing, eating, living, consuming and leisure life, and values. The results show that three lifestyle clusters were found: traditional conservative, planned pursuit of success, and unplanned consumption oriented. With respect to luxury-buying behaviors, there are significant differences among the three lifestyles regarding the purchased major brands, the amount and expense of luxury purchases, and the reasons for the purchase behaviors. Insignificant differences were found in the types of luxuries, the main purchase locations, or information sources. There was a far greater tendency to buy and recommend new luxury items than second-hand luxuries in all three lifestyles. This empirical study offers new framework and method for systematic research on Chinese consumers. It is expected that this study will provide academic contribution to researches on Chinese consumer behavior, lifestyle, and luxury consumption. In addition, it is expected to provide practical marketing implications for the luxury brands targeting Chinese women in their 20s.