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China Is Cutting Back on iPhones. Louis Vuitton Handbags Could Be Next

China Is Cutting Back on iPhones. Louis Vuitton Handbags Could Be Next

Publicerat av Tony Harkén fredag, 04 januari 2019.

After Apple Inc.’s shock profit warning, investors were quick to make the connection: if Chinese consumers are cutting back on iPhones, Louis Vuitton handbags could be next.

Apple’s sales revision cascaded through global markets, hitting suppliers and rivals, but also a raft of luxury-goods companies that rely on the same clientele that likes to splurge on Apple’s latest products. Gucci-parent Kering SA, LVMH Moet Hennessy Louis Vuitton, Burberry Group Plc and Richemont, the parent of jeweler Cartier, all declined in the wake of Apple’s shortfall.

Read more at - Bloomberg Business

Publicerat av

Tony Harkén

kina

Klockan i Hong Kong, Kina

CN - Time
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