Apr 18, 2024 01:19 PM
WORLD
Rich Chinese Tourists Drive Luxury Demand in Japan on Weak Yen
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Chinese tourists took advantage of a weak yen to buy Louis Vuitton bags and other costly items for less in Japan. Photo: Bloomberg
(Bloomberg) — LVMH Moet Hennessy Louis Vuitton SE’s first-quarter results brought reassuring signs that wealthy Chinese shoppers are splashing out on luxury items — just not in China.
The world’s largest luxury group — with 75 brands ranging from Louis Vuitton to Dom Perignon — said demand from the Chinese rose by 10% in the first quarter, when those shopping outside the country are included.
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