As China's economy slows down, interest in luxury goods has dramatically shifted as consumers start reconsidering their purchases, grappling with new shopping habits and tastes.
The ongoing property crisis and rising youth unemployment have significantly diminished consumer confidence, leaving luxury brands uncertain about future sales growth in China.
Although the government is trying to stimulate consumer spending, the effectiveness of these measures remains uncertain, with many luxury brands reporting notable declines in sales.
LVMH and other luxury giants have seen significant drops in revenue from the Asia-Pacific region, indicating a worrying trend for the future of luxury retail in China.
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