Sales of luxury goods are only likely to rise when the coronavirus epidemic dies down, consumer confidence is renewed and outbound tourism picks up again, say analysts. Photo: AFP

Luxury labels brace for impact as coronavirus outbreak saps consumer appetite in top market China

  • Top brands from Moncler to Burberry warn of negative impact from the epidemic, as they trim forecasts, scale back shipments, delay product launches and put off expansion plans in China
  • Analysts say online shopping will hardly offset sales lost by physical stores, with momentum likely to pick when the epidemic ebbs completely
Topic |   Coronavirus outbreak
Sales of luxury goods are only likely to rise when the coronavirus epidemic dies down, consumer confidence is renewed and outbound tourism picks up again, say analysts. Photo: AFP
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