Luxury Spending in Europe Hit By Drop in Tourist Demand

Tourist shopper at Louis Vuitton boutique | Source: Reuters

PARIS, France — Most luxury goods groups will not publish first-quarter figures until at least later this month, but anecdotal evidence is growing of at least a temporary slowdown in spending by travelers, which analysts say could be linked to worries about the global economy and tax increases in Europe, as well as the tough stance taken by China's new president Xi Jinping on illegitimate gift-giving.

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CEO Talk | Emanuele Carminati Molina, President, Valextra

Emmanuele Carminati, President, Valextra | Source: Valextra

MILAN, Italy — In 1937, in Milan’s Piazza San Babila, a new brand called Valextra was born. Eventually Valextra became known for producing the ultimate in Italian luxury leather goods for only the most wealthy and discerning Italian clients. Valextra was amongst the first to create products that matched the changing lifestyle of this elite class, who were just becoming accustomed to the luxury of air travel. Fast forward 75

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