Wednesday January 22, 2020

Big trouble for luxury brands in China

Top brands have reined in their growth expectations as cash-rich Chinese customers curb their shopping sprees

4th November, 2018
One of Louis Vuitton’s Chinese outlets: luxury stocks are down as Chinese consumers cut back on their retail therapy

Under the stained glass dome of the Galeries Lafayette department store in central Paris, Chinese shoppers form an orderly line outside the Louis Vuitton boutique for their turn to pick up a coveted monogram canvas bag. Next door at Printemps, shop windows are plastered with promotions for Golden Week, when more than six million Chinese travel abroad and lay out billions of euro for luxury indulgence.

Ordinarily, these scenes would make luxe purveyors rejoice –...

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