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China's Coronavirus Scare Impacting European Luxury Goods

Video Credit: Wochit - Duration: 00:35s - Published < > Embed
China's Coronavirus Scare Impacting European Luxury Goods

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 year’s growth in the market.

The numbers illustrate the damage that could be done to luxury goods companies if health fears deter shopping.

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