Chinese Consumers Are Still Under Pressure. Why Barclays Says It’s Time to Buy LVMH Stock.
Luxury brands have taken a hit from China’s sluggish economic recovery. Luxury brands grew increasingly dependent on high-spending Chinese tourists over the course of the 2010s. Part of that decline stems from the fact that Chinese tourists, who accounted for a significant part of that spending, are choosing to travel closer to home rather than to far-flung destinations.