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.
The luxury sector's rebound in China might have to wait, analysts at Bernstein say in a note to clients. "Chinese consumer confidence has yet to revive after a massive postpandemic step down," the analysts say.
Chinese luxury shoppers have been hit by slower macroeconomic growth, putting middle-cla…