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LVMH's sales in mainland China dropped by double digits in the third quarter, adding to doubts about the durability of a broader luxury recovery. Bloomberg's Angelina Rascouet reports. (Source: Bloomberg)
The biennial Paris Motor Show officially opened this Monday in France. Over 200 auto sector brands will be present, rivalling for attention with their latest models and innovations. This competition for attention mirrors the competition for market share. This is especially true between local European brands and Chinese ones which have seen their sales surge on the continent over the past ten years – prompting accusations of unfair competition. Report by Charles Pellegrin, FRANCE 24’s business editor.
In the strongest sign yet of a shifting European Union policy on China, the leaders of France and Germany have demanded a new trade weapon that would cut off access to the EU market when third countries cause severe distortions. The tool would effectively act as a kill switch, allowing Brussels to respond rapidly to systemic distortions, potentially immediately. It would grant dramatic new powers to the European Commission, the EU’s executive branch, which manages trade policy for the 27-member...
Chanel plans to keep investing in China, undeterred by the downturn in the country that has hit the luxury industry hard.