Coronavirus fears hit luxury goods stocks - leatherbiz: Leading news s Leatherbiz

News

Coronavirus fears hit luxury goods stocks

29/01/2020
The stocks of European luxury goods have been affected by fears over the coronavirus, which has affected around 6,000 and killed more than 130 in China, according to the latest reports.

Reuters reported that LVMH, Christian Dior, Hermes and Kering stocks fell more than 3%. Burberry also appeared affected.

Analysts said Chinese consumers make up 35% of the luxury goods market.

Peter Garnry, head of equity strategy at Saxo Bank, told Reuters: “Equities are finally beginning to contemplate the possibility that coronavirus will have significant economic impact as the lockdown is now affecting 56 million people.”


Related stories:

Hermès expansion boosts leathergoods revenues 04/08/2025
Store revamps for fast-growing Hermès 03/11/2023
Hermès opens leathergoods workshop with environment in mind 15/05/2023
Hermès displays craftsmanship in Copenhagen 20/10/2021
‘Exceptional’ first half for Hermes 05/08/2021
Hermès’ speedy recovery means continued growth 22/10/2020
Inga Gubeka: Consumers want to see leathergoods in person 22/01/2020
YSL to open leather goods site outside Florence 13/01/2020
Fondazione Altagamma appoints new president 16/12/2019
Breitling CEO calls Dubai a “mature market” for luxury goods 13/12/2019
Moncler plays down Kering speculation 06/12/2019
Golden Goose deadline approaches with multiple potential bidders 02/12/2019
Barneys liquidation sales to affect other luxury brands 27/11/2019

Leatherbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.