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Paris Attacks Deal Fresh Blow to Luxury as Outlook Dims

Tourism seen as key to whether consumer spending is hit
Hermes, Kering, LVMH shares decline after Friday's attacks

Retail Economy In a Regional French Town — Photographer: Balint Porneczi/Bloomberg

By

Paul Jarvis and Andrew Roberts

November 16, 2015, 10:58 AM UTCUpdated onNovember 16, 2015, 4:42 PM UTC

One of the few shining lights for a struggling luxury-goods industry just dimmed.

With demand for lavish clothing and accessories slowing from China to the U.S., brands such as Louis Vuitton, Gucci and Hermes have at least been able to count on a flow of free-spending tourists to Europe’s major cities. Friday’s attacks on Paris may change that.