LVMH: Big luxury brands suffer as Chinese shoppers hold back
Source: BBC
China's economic slowdown and a crackdown by Beijing on displays of wealth are taking a toll on some of the world's top luxury brands.LVMH says its sales in Asia, which include China but not Japan, fell by 14% in the three months to the end of June, worsening from a 6% decline in the first quarter.The Paris-based firm is not alone, as many of its competitors are also seeing sales slow in the world's second…
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