Bernstein: China luxury rebound may take time
Bernstein says the luxury sector’s rebound in China might have to wait. It cites consumer confidence that hasn’t revived after the postpandemic step down and slower macro growth weighing on Chinese luxury shoppers.
Bernstein said the rebound in China’s luxury sector may still take time, according to a note to clients. The analysts said Chinese consumer confidence has not yet recovered after a large post-pandemic step-down. They said slower macroeconomic growth has weighed on Chinese luxury shoppers, putting pressure on middle-class demand.