Chinese shoppers curb luxury spending, hitting LVMH and Kering

· Economy · China · France

Chinese shoppers are spending less on luxury, and the world's biggest fashion houses are feeling the pinch. LVMH, Hermes and Gucci owner Kering have reported disappointing results as a prolonged slowdown in China puts further pressure on the luxury industry. Meanwhile, Chinese beauty brands, flush with success at home, are starting to vie for global shelf space, with industry executives expressing growing confidence that Chinese products will find favor with consumers worldwide.

Why it matters：China's consumption slowdown is reshaping global luxury, while Chinese beauty brands seek to challenge incumbents abroad.

Key points

  • LVMH, Hermes and Kering reported disappointing results.
  • A prolonged China slowdown is pressuring the luxury industry.
  • Chinese beauty brands are expanding abroad.

Sources (original reporting)

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