China'S Economic Data Shake Global Stock Market International Luxury Group Diving

In January 14th, an economic data from China shook the global stock market, and the major luxury group's share prices were sharply shaken.

The fuse margin originated from China's weak foreign trade data.

This morning, China Customs Administration released data showing that China's imports fell 7.6% in December, the largest decline since July 2016.

China has contributed nearly 1/3 of sales in the global luxury market. The data make the market worry that the acceleration of China's economic downturn will have a negative impact on sales and profitability.

Prada, which is listed in Frankfurt, led to a drop of nearly 4% in its share price, while Prada shares fell by 9% in the previous Asian session.

Among the luxury shares listed in Paris, LVMH, a luxury group owned by LV, Givenchy and Dior, has Gucci, YSL's French luxury goods giant Kering and Hermes, and its share price has fallen by more than 2%.

Among the luxury shares listed in Switzerland, the shares of MontBlanc, Cartire and Vacheron Constantin, the owner of the group, also fell by more than 2%.

Moncler, a luxury clothing brand listed in Milan, fell more than 2.2%.

Pandora, a jewelry brand in Denmark, dropped by 6.4%.

It is worth noting that this is not the first time the luxury market has seen an early warning of slowing consumer demand in China.

In early January, apple issued a revenue warning and lowered its sales forecast in the first quarter of 2019 from the original 93 billion US dollars to 84 billion US dollars, which is attributed to the slowdown in China's consumer demand.

"Although we anticipate that the major emerging markets will face challenges, we have not seen any slowdown in the market economy, especially in the Greater China market," he said.

This gives the whole luxury market a wake-up call.

On the same day, major luxury group stocks also suffered a wave of setbacks.

At the end of November last year, the third quarter fiscal year 2018 released by Tiffany, an American jewellery company, showed that the overall growth rate of the third quarter in all markets was lower than the previous two quarters, due to the fact that the consumption of overseas tourists in China was lower than expected.

During the first half of the same month, the group published financial data, which also indicated that the watch business slowed sharply, and its sales growth in the first half of the year was only 8%.

All signs seem to show that the luxury industry is entering a severe winter, thanks to the slowdown in China's economy.