Yes, you read that correctly. Louis Vuitton, Hermès and Gucci have lowered pieces in China roughly 4 percent. It’s no coincidence that the declines are about the same. According to a recent Business of Fashion article (https://www.businessoffashion.com/articles/china-edit/cheaper-luxury-gets-chinese-excited), China reduced tariffs and VAT on some European imports and customers of these luxury brands are benefitting.
- Maura Carlin posted 6 years ago
- last edited 6 years ago
