Gucci’s China shock reverberates across the luxury landscape

Fears of a slowdown among Chinese shoppers have dogged the luxury industry for the better part of a year. The scale of the problem hit home last week for one of fashion’s biggest but most exposed brands, Gucci.

French group Kering had $US9 billion ($13.8 billion) wiped off its market value after warning that sales of the Italian label’s products in China had slumped this quarter. The slowdown is also starting to show up in other corners of the luxury industry.

Bloomberg