For subscribers
Is the luxury sector heading for hard times?
Sign up now: Get ST's newsletters delivered to your inbox
The industry downturn is being felt because both major drivers of demand – the US and China – have slowed.
PHOTO: REUTERS
Andrea Felsted
We’re all drinking less champagne as the world becomes a scarier place.
That was the message from LVMH Moet Hennessy Louis Vuitton. It underlines what is becoming the biggest bling bust in a decade. And even the world’s largest luxury group isn’t immune.
