China’s Uneven Recovery May Deepen Demand Worries for U.S. Luxury Goods Makers
August 10, 2023
The recovery of China’s luxury market is slower than expected, which could impact U.S. luxury brands like Capri and Estee Lauder, leading to a hit on their sales. Companies had anticipated a stronger rebound in China’s demand after pandemic restrictions eased, but the cautious spending behavior of Chinese consumers during reopening has affected the market. While brands like Ralph Lauren and Tapestry might fare slightly better due to successful product assortments in both China and the U.S., concerns remain as China’s consumer sector faces deflation and the recovery of travel retail is still pending.
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