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Richemont’s revenues dipped by one percent as demand collapsed in mainland China, Hong Kong and Macau. Sales in the region tumbled 27 percent in the six months through September, the Swiss luxury group said Friday.
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Economic headwinds, higher prices and a lack of novel design are all weighing on what was previously fashion’s most dynamic segment. LVMH’s quarterly results Tuesday will offer hotly-watched insights on the severity of the slowdown and how long it will last.
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Simone Stern Carbone is Luxury Correspondent at the Business of Fashion. She is based in Zurich and Paris and covers fashion and beauty, with a focus on the dynamic luxury sector.
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