在他发表上述言论之际，从瑞士制表商到时尚品牌，奢侈品巨头都在努力吸引中国消费者。中国是世界第二大经济体，长期以来一直是全球零售商的基石。Bulgari CEO Jean-Christophe Babin said the Chinese luxury market could recover within the next 24 months as the Chinese economy rebounds.
The Zhitong Finance App learned that Bulgari CEO Jean-Christophe Babin said that with the rebound of the Chinese economy, the Chinese luxury goods market may recover within the next 24 months.
In an interview at the China International Import Expo held in Shanghai on Wednesday, Babin said that the LVMH jeweller's physical store sales in China have declined markedly this year, and online channels can reach more customers, including those in smaller cities.
At the time of his remarks, luxury giants, from Swiss watchmakers to fashion brands, were trying to attract Chinese consumers. China is the world's second-largest economy and has long been the cornerstone of global retailers.
In the third quarter, LVMH's sales in Asia, including China, fell 16%, exceeding the 14% decline in the previous three months. Kering warned that its annual profit would fall to its lowest level since 2016, after comparable sales of its core brand Gucci plummeted 25% in the third quarter.
Babin said earlier this year that Bulgari is focused on a more stable market for women's watches, and that most components such as cases, dials, and movements are produced in-house, which has given it the ability to adjust production and survive a period of declining demand.
