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Louis Vuitton shuts up shops in China

Louis Vuitton has closed three of its stores in China and is expected to shut several more in the coming months, sources have told the Financial Times.

The closures in the cities of Guangzhou, Harbin and Urumqi will leave the brand with about 50 stores in China.

However, Louis Vuitton said it will continue to invest in China, pointing out that it opened stores in Beijing and Hangzhou earlier this year, before the others closed.

It is the latest luxury company to have been hit by China’s slowing economy. Giorgio Armani, Hermès and Versace are among those to have closed stores in the country over the past couple of years.

Louis Vuitton parent company LVMH said last month that demand from Chinese customers was flat, compared with double-digit growth in the first six months of the year.


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