, Columnist
The Luxury Party Is Fizzling in China
Doubts about the country’s post-pandemic recovery is making investors, and perhaps shoppers, nervous.
Where’s the party?
Photographer: ISAAC LAWRENCE/AFPFresh from their tumble last week, European luxury stocks have suffered another fashion faux pas.
The concerns that sent shares lower on Wednesday center on the risk that that the C-shaped recovery — the wave of demand from China since its post-pandemic reopening — is starting to deflate. This would arguably be even more serious than the slowdown in the US luxury market that unnerved investors last week.