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Luxury Sales Plunge in China as Tax Push Hits Rich Shoppers
Research firms said sales at China’s 25 biggest luxury labels fell more than 10% in July as tax and capital controls curbed spending.
Summary by Business Times
7 Articles
7 Articles
Luxury Sales Plunge in China as Tax Push Hits Rich Shoppers
·New York, United States
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At the beginning of the year, it looked like a recovery for Western luxury brands in China. However, sales suddenly collapsed in July.
·Vienna, Austria
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(File photo: Thai actress Ann Thongprasom displays a bag at the Louis Vuitton SEE LV exhibition in Sydney on November 3, 2022. (Lisa Maree Williams/Getty Images))
·New York, United States
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Total News Sources7
Leaning Left0Leaning Right4Center2Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
C 33%
R 67%
Factuality
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