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- Consumer spending in China is down, and luxury brands are feeling the hit.
- Brands like Balenciaga, Burberry, and Marc Jacobs have offered big discounts to reel customers back in.
- But experts warn that discounting could diminish these luxury brands' desirability.
Luxury brands like Marc Jacobs, Burberry, and Balenciaga have been offering big discounts in China to try to reel in customers following a drop in sales figures.
This week, Hugo Boss, Burberry, Richemont, and Swatch Group all reported slumping sales in China.