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Bad news for Chanel, Gucci as China's boom times end

One of Hong Kong's busiest shopping streets winds past the Times Square center, under slick signs for brands like Mont Blanc (Euronext Paris: MLCMB-FR), Cartier (: ECR-V), Gucci (: GUCG) and Burberry (London Stock Exchange: BRBY-GB). But inside the towering luxury mall, the hum of the crowds below fades into the quiet of rows of mostly empty boutiques. A sales attendant greeted a few people ...
Source: The New York Times | By: Hiroko Tabuchi and Amie Tsang
Yuan drops, luxury shopping stops for Chinese tourists

The Chinese tourists who have become a common sight in the world's major cities fear their wings will be clipped if Tuesday's shock yuan devaluation develops into a deeper dent in their spending power. More than 100 million Chinese travel abroad every year, buying more luxury goods than any other nation. Shopping for the perfumes and designer clothes that can cost them twice as much at home is ...
Source: Reuters