For the better part of a decade, wealthy Chinese tourists have been on a feeding frenzy for luxury brands, casinos and cruise lines. French luxury giants L’Oréal SA and LVMH have tried to ease concerns, saying travel sales remain robust. Wealthy Wanderers The Chinese tourists made a perfect target for luxury brands. “In the luxury business, tourism is an important part.” Inroads in China Many North American luxury labels consider themselves underexposed to the Chinese market, especially compared with European peers who are faring better. “This shows you can’t depend upon Chinese tourism as the drivers of your business,” said Danziger, the luxury analyst.

Source: thestar March 07, 2019 15:22 UTC