Fast forward to Wednesday and a slump in Chinese demand for Louis Vuitton bags, Dior gowns, and other high-end fashion has wiped out more than €150 billion in LVMH market capitalisation. Arnault's wealth has been relegated to fifth place amid a downturn that's dashed any prospect of a soft landing in luxury.
The question for investors is how long the slump will last and whether the recovery will look anything like the good times that preceded it.
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A singular life in plural India
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FMCG firms roll out tailored offerings for golden years
Affluent and health conscious, mature consumers are becoming selective about what they buy. Businesses are stepping up to meet their needs
SPHERES OF INFLUENCE
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Accenture Q1 showing a shot in arm for IT stocks
Strong US economy bodes well for Indian IT firms, say analysts
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IPO frenzy: Six issues fully subscribed; IGI at 13% premium on listing day
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Debt funds to deliver best show in 4 yrs
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