via Business of Fashion · August 20, 2026
Luxury Sales Plunge in China as Tax Measures Hit Wealthy Shoppers
Global luxury brands face a deepening sales slump in China, as the country’s campaign to tax offshore wealth dampens spending by the country’s richest consumers.
The Story
Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending by the country’s richest consumers.
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Original report
Business of Fashion
