Richemont, Burberry See China Sales Rebound, Sparking Optimism
- Burberry finance chief sees ‘strong trade coming through’
- Richemont says revenue is already rebounding this month
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Richemont and Burberry Group Plc said consumer spending in China is already rebounding after three years of pandemic lockdowns and a virus surge that cost the luxury-goods makers almost a quarter of their sales there last quarter.
Burberry Chief Financial Officer Julie Brown pointed to “very promising signs in January” in the key luxury market. A Richemont spokeswoman said customer traffic has come back, leading to a strong retail rebound.