Chinese shoppers are spending less on luxury. The world’s biggest fashion houses are feeling the pinch
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LVMH, Hermes, and Kering have reported disappointing financial results. The owner of Gucci is among those feeling the impact of a prolonged slowdown in China. This trend has placed increased pressure on the luxury industry as Chinese shoppers spend less on high-end fashion.
LVMH, Hermes and Gucci owner Kering have reported disappointing results as a prolonged slowdown in China puts further pressure on the luxury industry.