Warning Bells for Luxury In ChinaApple’s sales warning might be signaling trouble for high-end fashion sales this year.

[Collection]If Chinese consumers want fewer expensive cell phones, what else are they ready to pull back on? The warning last week by Tim Cook, Apple’s chief executive officer, over slower sales of the brand’s products in China rocked global stock markets — and could be the proverbial canary in the coal mine for the luxury crowd. “While we anticipated some challenges in key emerging markets, we did not foresee the magnitude of the economic deceleration, particularly in Greater China,” Cook said, attributing a surprising shortfall in the company’s revenues to iPhone, Mac and iPad sales in the country. “China’s economy began to slow in the second half of 2018. The government-reported GDP growth during the September quarter was the second lowest in the last 25 years.” The warning was felt acutely across the high-end universe as Apple has many of the aspects of a luxury brand, with its higher price point, focus on aesthetic and presentation and prominent logo. And many luxury stocks felt the sting, starting 2019 with decreases as the market seesawed and posted big gains on Friday. During the first week of the New Year, the decliners included Kering, down 3.7 percent to 397.40 euros; LVMH Moët Hennessy Louis Vuitton, 2.9 percent

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