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Louis Vuitton is a French company. Also, Burberry, am English company, had 8% drop in sales

• monocasa 8y ago
  Better said: it's not clear that foreign company crashes in China are a sign that the Chinese economy is "crumbling". One of the largest pieces of their current economic plan is "Made in China 2025": a shift from being a contract manufacturing base to instead be building and manufacturing Chinese designed and branded goods. https://en.wikipedia.org/wiki/Made_in_China_2025 https://en.wikipedia.org/wiki/Made_in_China_2025
  • witcherchaos 8y ago
    Incorrect 1.) made in 2025 was announced in 2015. Crash happened last year in a sudden fashion across all luxury goods 2.) brand loyalty doesn’t work like an immediate switch easily levered by a government. 3.) average Chinese citizens prefer foreign brands still, due to food and vaccine poisoning cases from local firms
    • coldtea 8y ago
      Incorrect >1.) made in 2025 was announced in 2015. Crash happened last year in a sudden fashion across all luxury goods Which is neither here nor there. Something can be announced in 2015 and be put in effect "last year", or have some significant component on it put in effect last year, or see the first major results of the overall thing a few years later. >2.) brand loyalty doesn’t work like an immediate switch easily levered by a government. Extra tariffs and support for local made products ("buy patriotic"), however does. >3.) average Chinese citizens prefer foreign brands still, due to food and vaccine poisoning cases from local firms Which is irrelevant to things that are not foods.
      • witcherchaos 8y ago
        Dongfeng motors dropped 17%. BAIC motors dropped 11%. Great Wall motors dropped 40% alone in November.