A woman with a Louis Vuitton-branded shopping bag looks towards the entrance of a branch store by LVMH Moet Hennessy Louis Vuitton in Vienna, Austria.
Paris: Shares in top European luxury goods companies fell on Monday after weak economic data from China, which is a major source of revenue for many firms in the sector.
LVMH (LVMH.PA) and Kering (PRTP.PA) both fell by around 2 percent, while Hermes’ shares (HRMS.PA) declined by 1.3 percent.
Data on Monday showed that China’s exports unexpectedly fell by their most in two years in December, while imports also contracted, pointing to further weakness in the world’s second-largest economy in 2019 and deteriorating global demand.
(Business Television India (BTVI) is now on WhatsApp. To subscribe to the service, click on www.btvi.in/WhatsApp)