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French luxury goods groups’ shares hit by weak Chinese data By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The French luxury brand Louis Vuitton’s logo in Paris, France on February 4, 2021. REUTERS/Benoit Tessier

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PARIS (Reuters). LVMH, a French luxury goods firm, has shares. Kering After weak Chinese economic data, the PA: fell Monday. China is a major market for most of the top global fashion brands.

Kering lost 1.7 percentage in the early trades, while LVMH fell by 1.3 per cent. Hermes, the French luxury goods brand that is a rival to Kering, fell by 1.2 percent.

China’s third quarter GDP growth was the lowest in one year. This is due to power supply shortages, bottlenecks, and occasional COVID-19 epidemics.

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