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French Luxury Groups’ Shares Hit by Weak Chinese Data

Louis Vuitton launches a pop-up store at the Luxury Brand Roadshow at the Shanghai Global Port in Shanghai, China. Getty Images. (Getty Images)

Reuters

18 October 2021

Shares in French luxury goods companies LVMH and Kering fell on Monday after weak economic numbers from China, a leading market for many of the world’s top fashion companies.

Kering was down 1.7 percent in early trading while LVMH retreated by 1.3 percent. Rival French luxury goods company Hermès also fell 1.2 percent.

China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks.

By Sudip Kar-Gupta; editor: David Goodman.

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