Luxury in China Loses Lustre as Wealthy Flee

Dior store in Beijing | Source: Shutterstock

HONG KONG, China — Wealthy Chinese are likely to buy fewer luxury goods again this year after the steepest cut-back on spending in at least five years, changing the game for high-end retailers like Louis Vuitton which have staked their growth on China.

…Continue Reading

LVMH China Watch Sales Decline Offset by Overseas Purchases

Tag Heuer campaign feat. Maria Sharapova 2013 | Source: Tag Heuer

PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, says its sales of jewelry and watches have dropped in mainland China and are being offset by Chinese nationals buying overseas.

…Continue Reading