The luxury outlook in China just keeps getting worse

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Dior Hong Kong
China's luxury sales are tumbling as wary consumers spend less at home and more in Japan.

Serene Lee/Getty Images

Japan is fast becoming the hottest market for luxury brands

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people queuing outside the Dior store in Tokyo
Tourists are flocking to Japan to take advantage of its currency downturn, buying luxury goods for less.

Tomohiro Ohsumi/Getty Images

The luxury conglomerate behind Cartier is beating LVMH at its own game

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Photo collage featuring a tag with the Richemont logo, jewelry from Cartier (Trinity ring and Love bracelet), and a Van Cleef Vintage Alhambra pendant
Richemont, the conglomerate that owns brands like Cartier and Van Cleef & Arpels, has been heating up the luxury space.

Richemont; Cartier; Van Cleef; Alyssa Powell/BI

Gucci's owner is having a terrible year. The company's profit and stock have slumped as Asia sales dry up.

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Gucci store in China
Gucci's revenue declined significantly in the first quarter.

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Luxury brands from Gucci to Chanel are placing billion-dollar bets on in-store shopping

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Gucci
The Gucci storefront in Moscow.

ALEXANDER NEMENOV/AFP via Getty Images

Shares of luxury brands are tumbling in a sign consumers' high-end spending spree is over

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Chinese tourists buying the luxury brand Louis Vuitton, Macau, China.
LVMH shares have tumbled in the past six months.

Bob Henry/UCG/Universal Images Group via Getty Images

Meet François-Henri Pinault, the billionaire who's married to Salma Hayek and runs the luxury-goods empire that owns Gucci and Balenciaga

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Francois-Henri Pinault and Salma Hayek stand in front of background that reads Gucci
François-Henri Pinault and Salma Hayek in November 2022.

MICHAEL TRAN/AFP via Getty Images

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