13:58 - 20.08.2026

---

August 20, Fineko/abc.az. According to data compiled by Bloomberg across leading research firms, sales of the top 25 luxury brands in China plunged by over 10% in July, marking a sharp reversal from earlier gains.

Major fashion houses including "Louis Vuitton", "Dior", "Gucci", "Bottega Veneta", and "Balenciaga" logged double-digit declines, while growth sharply decelerated for "Hermes", "Chanel", and "Prada". Industry experts attribute the slump to China's crackdowns on offshore assets and heightened tax scrutiny, which have dampened the spending appetite of high-net-worth consumers.