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Luxury sector impatient for return of Chinese tourists

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By Katell PRIGENT

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The Chinese accounted for "a third of luxury purchases in the world and two-thirds of those purchases were made outside China", said Joelle de Montgolfier, head of the luxury division at management consulting firm Bain and Company.

Luxury goods industries have successfully campaigned to shift tax burdens to the working class.

Helping world's richest man competition winner LVMH Arnault to evade taxes fueled by a hunger for status in China and elsewhere.

https://www.icij.org/investigations/pandora-papers/pandora-papers-reporting-from-across-north-america/

0 ( +2 / -2 )

"There are already lines in front of the boutiques even without Chinese clients... they need more staff," said de Montgolfier. Otherwise, they risk a "degradation of the experience" of shopping in a luxury boutique.

….

The only degradation is in the purchaser’s bank account

3 ( +5 / -2 )

"The pandemic is still very active in China and it will affect lots of people."

I don’t welcome hordes of Chinese…

1 ( +6 / -5 )

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