Tuesday, March 21, 2023

Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning

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  • Luxury giant LVMH said China’s wealthy consumers have started returning to stores after the country’s reopening.
  • LVMH reported its second straight year of record sales and profits, with 2022 revenue up 23%.
  • The company’s cautious optimism echoes positive comments earlier this month from Burberry and Swatch.

Some analysts say China’s reopening could mark a “big bang” moment for luxury — driving sales in the country as well as in Europe, as Chinese tourists return to Paris, Milan and London this summer and shop for luxury goods.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC


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