Major luxury brands have reported encouraging sales figures in April from China amid the country’s first tentative steps to reopen its economy. LVMH and Kering, for example, have reported strong growth since early April, and senior executives from the firms are optimistic that renewed foot traffic to retail stores in the coming weeks will originate additional growth. “We have seen substantial growth rates, sometimes in excess of 50 per cent for the large brands, so it shows the appetite of Chinese people after two months of lockdown to go back to stores and come back to their previous pattern of consumption” said LVMH chief financial officer Jean-Jacques Guiony -.” Chinese consumers account for one-third of global luxury sales. Positive results have been reported also from Hermès and Bulgari, among the others

***

Click here to visit Michele Franzese’s world. New SS20 arrivals: register, subscribe to newsletter and get discount coupon up to 30%!