Pursuits
LVMH Skips European Austerity Raising Prices for Chinese
This article is for subscribers only.
Chinese tourists traveling to Europe to take advantage of savings as much as 50 percent on designer clothes and accessories are finding fewer bargains.
LVMH Moet Hennessy Louis Vuitton SA and its peers are raising prices to make up for lost business in China and lower profitability outside the country, even if it puts items like 2,270-euro ($3,000) Lockit handbags further out of reach for Europeans whose disposable incomes are shrinking amid austerity.