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How Japan Is Creating a New Headache for European Luxury

Tourists are flocking to Japan to scoop up high-end clothes and handbags at a discount thanks to a weak yen.
A woman (R) poses for a photo at the main intersection in the shopping district of Ginza while some roads are closed off for pedestrians due to the national holiday, in Tokyo on April 29, 2024. (Photo by Richard A. Brooks / AFP)
Japan is this year's big winner of the post-pandemic tourism boom, thanks in part to the weak yen. (RICHARD A. BROOKS)

Tourists are flocking to Japan to scoop up high-end clothes and handbags at a discount thanks to the weak yen currency. Luxury goods companies like Louis Vuitton parent LVMH would rather they stayed home and shopped.

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