Chinese Shoppers Drive Luxury Sales in Japan Despite Macro Concerns [Yahoo! Finance]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance
As the Japanese yen sank to a 34-year low against the dollar, price differences for luxury goods between mainland China and Japan have almost reached the highest level in 18 months, according to data from Luxurynsight , a Paris -based consulting agency. More from WWD How Cycle Syncing Has Become a Women's Health Movement EXCLUSIVE: A Smaller, Revived Century 21 Talks One Year Back in Business At 95, Mary McFadden Talks Fashion, Playing Tennis and 11 Marriages “The fall in the yen brought luxury brands to be even less expensive in Japan [for Chinese shoppers] than in Paris,” observed Luxurynsight founder Jonathan Siboni who believed travel retail was one of the main reasons why LVMH Moët Hennessy Louis Vuitton's sales grew 32 percent in Japan during the first quarter. In stark contrast, organic revenue in Asia, which China dominates, declined 6 percent year-over-year in the same quarter. According to Ctrip, China's largest online booking platform, Japan was the most popula
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