In the Land of the Rising Sun, Luxury Sales are SettingBy
Tokyo’s fashionable Ginza district has propped up the otherwise moribund luxury sector lately, as Chinese tourists flocked to Japanese department stores to nab high-end goods. But growth has decelerated due to the strengthening yen, according to Barclays. The government’s decision to delay a sales-tax increase until 2019 might help matters, although it also means there’s now no hurry to buy expensive stuff.
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