China's Coronavirus Scare Impacting European Luxury Goods
Video Credit: Wochit - Duration: 00:35s - Published
China's Coronavirus Scare Impacting European Luxury Goods
European luxury stocks fell on Tuesday over fears that the coronavirus virus outbreak in China could hurt sales.
The slump of high-end brands comes after many had managed to weather months of protests in Hong Kong.
Chinese shoppers account for 35% of global luxury goods sales and 90% of last yearβs growth in the market.
The numbers illustrate the damage that could be done to luxury goods companies if health fears deter shopping.