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There's more to China's luxury spending slump than its struggling economy
Demand for luxury goods is slowing in China, and tough economic conditions aren't only to blame for this.
China's Economic Struggles Drive Exodus In Finance Industry
Amid China's regulatory crackdown, some finance professionals have pivoted to different careers, from education services to stand-up comedy, per a new report.
China's economic slowdown deepens
China's economy expanded in the third quarter at the slowest pace since early last year, as the country struggles to boost flagging growth. On an annual basis, gross domestic product (GDP) rose by 4.6% in the three months to the end of September,
22h
China's booming grey markets add woes to luxury brands
China's second-hand and grey markets for luxury goods are booming, as price hikes from luxury brands in a weak economy are ...
3d
LVMH Revenue Falls, Sparking Fears Of A Luxury Market Recession
LVMH reported 3Q2024 ended down 3%, with Asia off 16% and Fashion & Leather Goods down 5%. LVMH called it a cyclical downturn ...
Newser on MSN
1d
A New Stat May Spell Trouble for the Luxury Market
A humdrum-sounding trade stat has caught the attention of the financial press because it may signal bigger trouble on two ...
Asia One
1d
$32m luxury goods scam: Thai woman admits to cheating, money laundering
A Thai woman involved in the $32 million luxury goods scam has pleaded guilty to cheating and money laundering on Monday (Oct ...
Channel NewsAsia Singapore
10h
Tradenation luxury goods scam: Woman pleads guilty as prosecution details her lavish spending
Pansuk Siriwipa spent money from the business on a private jet flight, a downpayment for a sports car and a property in ...
11d
Luxury goods unlikely to be next target of China's EU trade retaliation, analysts say
European luxury shares have slid on investor concerns that Hermes handbags and Dior slingbacks may be Beijing's next targets ...
21h
What does luxury even mean today? Four fashion insiders weigh in
Steff Yotka of Ssense, Guillermo Andrade of 424 and others wrestle with the meaning of luxury at a time of skyrocketing ...
4d
North Korea Imports $50 Million in Luxury Goods in Kim Gift Splurge
Imports of watches from China saw a 64 percent year-on-year increase, suggesting North Korea's leader is stepping up rewards ...
6d
on MSN
LVMH sales fall 3% as China demand for luxury goods worsens
By Mimosa Spencer and Dominique Patton PARIS (Reuters) -French luxury giant LVMH reported a 3% fall in third-quarter sales on ...
malaymail
23h
Thai woman pleads guilty in Singapore’s RM104.8m luxury goods scam, faces 15 years’ jail
A Thai woman at the centre of a S$32 million (RM104.8 million) luxury goods scam has pleaded guilty to multiple charges of ...
5d
It looks like the glory days of luxury are over for LVMH, at least for now
LVMH reported a 3% decline in sales in its latest quarter, driven by decreased demand from Chinese consumers.
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