The coronavirus outbreak in China has brought the world’s second largest economy to a low ebb, causing a national panic, with stocks plunging to the lowest since 2015. Wuhan, the epicentre of the novel coronavirus outbreak, has suffered the worst, with the number of people being affected still rising. As cases continue climbing, medical experts say the turning point is yet to come. Fighting the epidemic remains the nation’s top priority, President Xi Jinping has personally stated. The month-long battle has made the passing Lunar New Year – a time that usually tops the chart of luxury goods sales performance – a quiet one. China is widely known as the bread and butter of the world’s luxury industry, contributing one-third of global spending. Coronavirus: which celebrities are donating money to fight the deadly disease? On January 27, LVMH, the French luxury conglomerate and owner of Louis Vuitton, Christian Dior, Givenchy, Bulgari, Tiffany & Co., Moët & Chandon and hotel chain Belmond, announced a donation of 16 million yuan (US$2.2 million) to The Red Cross Society of China to ease the Wuhan crisis. More luxury brands have now joined LVMH and other Chinese companies like Wanda and Alibaba in donating money to help fight the virus. Swiss luxury enterprise Richemont, which owns a portfolio of leading watch and jewellery brands from Cartier and Van Cleef & Arpels to fashion labels Chloe and Dunhill, donated 10 million yuan. Kering, the mother ship of Gucci, Yves Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta and Boucheron has written a cheque for 7.5 million yuan. French Hermès has pledged five million yuan to the China Soong Ching Ling Foundation, honouring the medical professionals who are fighting on front line. Is Louis Vuitton copying Ralph Lauren by opening its first cafe? Italian company Versace donated 1 million yuan, as did America’s affordable label Coach. PVH (Phillips-Van Heusen), the parent company of Calvin Klein and Tommy Hilfiger, made a contribution of 2 million yuan. Why rich Chinese millennial women are turning to etiquette schools Beauty group L'Oréal contributed 5 million yuan, and Estée Lauder bestowed 2 million yuan. Taiwan designer Shiatzy Chen chose to give away 5 per cent of its February revenue, while Ports gathered goods and materials worth 3.07 million yuan to send to hospitals in Wuhan. Want more stories like this? Sign up here . Follow STYLE on Facebook , Instagram , YouTube and Twitter .