Retail
May 9, 2023
The return of Chinese consumer demand is propelling the stock prices of European luxury groups such as LVMH and Hermès to new highs. Image credit: Louis Vuitton
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IKl9vX+M5\/e+qBXrcGW+vQDtf3Fr5GEKbDhQH8AOGRYJY2Dq8zQ5Mg6cDUtSWy9Qf4rcxwmw7RLXLyRFTBqk4\/9\/FXFMGyLH6IFRHUkGLhArTFUQGv1iNz1CHNA0DxS4PZPeCZKnXTnD0cdEDg2aOObQ9tIOTqu1oq8iUQlWgf\/5d9e0ROeJPLt\/V\/fYXE4aBLxs7lo1U1HSaUU9ezXhfn6nxpfv6R07hCI31I48OfnXPsu24dDQbpYHg2wITv8JVlv+NF3Z1eG\/iMFgkdIu89ahyH6ejlBMafqbc2TmJ\/MO88GG9c4AtgIcLhK1sdnH+jmK1iaCmhMIt1eGssqAxZMCxM9j7JJMZyjjvOgJbJrH+C2f4byErANMIgD7srMQmbhOdOQpoK+c68mi5GlbysHB7gnJDaoeL9Em5aLrqjV8WfQAfo1QFx5LVMDrzm\/LhVpqq+0SfFqHYxVz6rt4M7Dzs1jRheDl93s6BMF3AS485aALa8LQgoE4DxivLr+4WBfnkQkhtkcaoCxvk1A5PxVue1fUk8zlaMc7dsh1fCPNNqVPmiW+YW62pGXHbG\/tlutZ2eU7b8zE0aP4VbPOr6iEwUolR+TzI4QgHMmHYn5vk9tOTuUDYKD3+wGoW+pAZ81x\/E1UMZsqiqsGYRIzYIXYcSstFUjCUSWDL3\/0niF6tMPTg\/iUmqZBFcJmhARbuV9c9AviIk1tWPaGzsCB76kXPQjh1\/aW9sW1IxxOp3FBicHsa5nGmt4uHmMnbQdqGlpAcI\/bd5g7y7MtDXVNuy5NoSCie6PBOCZf1PVmuKLwiAX6fKVW8CzUW\/gYW7vs0ZJhtJGBVV6s9K+sQJwjK45zATyeBSHbthuROY2KxGKcRr2ro4x4FcrydbMm+GRdq1WKBqZoJ2z9994kaeHVZvp4gaUx\/BTYJdw9dFOZi4KFAgRpuVjNzgsgGY5K2RZq9kRM01hEsEtZeSkAi48da1b99dDzfxam3mew0bZgjpqifobHmYXRodFCLgxgtL3d14jfn\/POibiU7MghzRgRvCihnlcnNt1pKrOawUPVSCWw0qjUQ7xmBur0QPJx90yDlYe1fW1gDcBQRcXlnr1ojk1vPqSa6TBf1iiczWXlOwcdJxN3S+LjHYtfE7qXfHbWFeBDB5N2PiyK608pcg+UPr0ch2ArsXn7JgGz6Okpbei1NubFgkYM6NmMl50FHbseXdHKN1XUoRY3oVG6uP9MJtb4\/mDtMcnnueBOFjKAiIGTDx0VrnbMSb0HoKgAQO4tn0iVCM+nbMJVfxcooJQ2iux8HH8SQYk1T4HzdKPQ8F1v4dQ0of5jKk5tX41Tub0VtYE4k2toT9WkUwPLgiC2llfw4wTfGqXszhp1W1BYzmiaBQdkczZ+6A\/RzoVtElC1v5KpgHPAFkNS3AfRsLsxaPO811g4CAcAn1\/AV3\/VyLAs7407EndI9F1H35teyO8DlcfcG148RE5vuO6npFsse0gkLn6OSYevSH\/99OsbzN0ELl7AMwRL30rf5tzotuYs26GHTWo3NYh27ivD2xrWn4a+UkXiR+ZFnA3FDArwWJctWX5ACXA9S7n0nDYKd6csOMQ\/PZap+Mpr9doiYo8lRKCJQYEIqJPGqKhslv4UdGkSBwlhbbaNyLhX0504oKZX41BhJkY6JmOlXzpvsctvLS24zuXgf9YhDUnDQDJkUuWpIpNRM7LtedsHejhqk1lhi2QnU1oS5koHZZvAEC7Tk1GnQVNqvgUJa3t0knS9vyKlH0nSgcKWLPkY1MGeqiP6RpGYObBlyclJ4kNQhvwq+aFoR\/Ow6m87Yw\/gulo50UO2p+31X1AX4tI5ylMuxjg7MuB0zJzsbqwyaAwAFLWI5rju6DouB9UNiNdxPLawDIA57Gz1rzFbcJr\/G1RRdn3UBzSbLltbBPh8K6TsvZZVnV5ilJu6dnZltp7vNYoA\/Ru5qHdy9\/lJnfc+uagdAyPnshfNDkif7cf3ihX5h7CAsvNYmwRxm8JpN0E6gqMI3ZfqTOvtht8KWzSLSv1uG0F3fbyP2V4BMEMuxR7M472ZYzgRMxc+3xRz+fSWMLkiVxGAcZvj17+701uHuoqyH6t55wMPG7EBnqyMSxLb2Cyla1BV00Tb\/MqFmDxwr7qCwky4JxmmflILq+wo5BArha9oQTembv1N0bfTkVDBDh9Kz7X5j\/j3Fb56bKjeySrSmLZDv3wJc8TZ2Owa1RWoTnFovU8gppt283NnKk9Igdvs4\/q\/ol+VXltgLCxytDnYfPS0MKfXZIlPevjXDW6AHCf3dDwCzmR+ek\/eC3VLC4\/PQdG\/uBhmiytwYfNhPwTuj3gpbkrOulWKLnwoRX0WtHXDjnLMaZRA3qa7P\/d6bFBXCWScRuiCipoJEQB3nzGQIRdBYhNzktPvTUug3lyTZ4fNAMypi+0ck\/+3N\/IbckJaUinyPeKBjAkO6sB+4CGow\/UpYsbiUyxxtipccaKQ7G0WsYW1jTjKaXVm4XX2v3P\/RI1XJQ4vu2+yr\/qR5MPmnnIND+lP5ShYqs3mNiaCw\/nNdUVIXxkZIZd6ZAl4ofH28ufAwvvFfmwNOn8DQZjyCZymUj0jSZxjQ+gV\/culD3z7q96D4O0AkPdoKKnoKYiL6Yni6dGx9AIJcDCDFK\/gSZtyGMI3+PXEIGl7hwnuvCG6nKJDbDWtTesczdQRMGi\/0\/Ner9\/D4IoOAHH6Mv61R9\/JBwWl62IVzcSRZnqY8WxRixaIwHDgs\/MU+VOm1FHJHYtPZS6CBU6YS+3zpFb9pRV5+zRPqA877wbD8vSmoKz5dckEtaF\/SxIEf3fNpIN3TExN9FBpACyDhNMPRogMq5uzxv\/3WVSzup9anykCg35l87sB1OL14TxeGjsko3psXEx5Z1lB+cpzPudS2GriI46frDGRLWRUB8SsmzS\/qsmWslBjAmcFbmikld6NXrASNVsz2imLBa2t3EHH6QK9V7WN\/GEIlJr2rjlJ08A0W2eVCKf1PvAx7emvwpB01C7ldCGXcaiPdExbigCDqLhF9dcx3tnSMYL8W373WigYOhxU3ut1eEjNCXMbEPW4KZHAOY4VcEVkMC0hFE\/5fvPCcenTzElkjWITaRx8UXoeFYJft1HMs4pcqXad93QA7yBluPy6vThEWLEoaRRSn29KTJIwOOPVMJKS6EbXDLyatdu2ZkUCtca2refbe8UhZkdem59psjQqrmQPO9GDoWh1OrFD71KR0tOZmQvejH3CL0sipGAC2ICbgq+HvmsVPvGqKakM6tiTmn6l43n09F7MDFYl3mTNenmCO6ejkmmO+BXVJOJoel6Cs2bnz4bqLYzSbceEGCh+YRUP59QbacDcD\/dzmsDaVcFtH+RF7HUXVdjAgD+Bjbo1aKbKuITDwKXXxMqtT3dEK38rXeFcFObiZwJ1Yj7N5PCZfW\/erYBZ\/hmjOYhdsg6BNIMUd5DYC\/V8LcGpwuhScBI3wPxPmpwVbMcPpnxkyTCZPUqh9ABWAqCUioaCPUB9T8+N8rq11c+5dkyzM\/ytTvhl4T73AK0HTW3pG4288jmvrw6AF7NHCQun+VP7sEz5yIs1WDpe5fHVQZucCgAPLCFP8eiSbUyXXlyp9cnC9eHWCmHd\/PpXJLSHsiLB\/0wRKcK9VhvNjGYxYSEKN6qNyxhHZhWErBNmTo6AYUNDg4I5\/IQZivgOMIoSSzPNoUR8YRggIsDPn3iaMpjy6e7g5B9ckh9lBlaWMObABRmkS9fW5iwhRo107Yt5Hvrb+JSxXJImKBedotH9DZYamShHcKt35i5DwAeFsx9vqphxGzAwJ1fYeUTf7arHohEM838lspiNl+8b2RQq46LcBaOplaaLBFPfb4oYElhW8DB650Z5gTQIE8BfSpVAuj3oqMHjzS8wY92F3KsfNkoNOVffha31XCfHKPs6FO+ADgfci1qC4txfo6Ep3\/iOn43VCbQO5Hsxy6CUzv9rasZppZ51RDaPjPZ4AznY8+CiHbd2qW3LRlpSkMzFu59o6jDmGwZg1y+\/YClPBDkPY0M5DILOe83WP3tX+VwcbAjB8Ev+uKSC57t7cUKHkeMPGVQvWWQnhp13ctif0ol9oAi+fJ4zJ6PU7E7B9hgg\/e2wsT8t+QqPMNGMkl9obX+Db\/BYQXr6\/tBS4nOoC+mWe7ZByfLB5SRYyjcxs\/WsDyDBKz+XpU3OQhjdE8ZBoJmLOe+QEFz81kXUrqzifdCXEHJZ7UmEs6JqYwtXJAANSYdYYX7f2NB5\/ij3CxxCWfVYmR3OtCWBTHVJUO8rypPJxA7EUN8NgMyqhIwFSop8CRUlUcLjtwLqu0l3bjllV+SYG5ikJMRbK9Q4Tbd8FQNrVte+h3O8XQMTl1+nSOldcykbPjAm9\/RRzcGeRWavLO+FltO6z43s2F0TPFWrus1bbUgIQc5Ldis9yiGOIUj\/yK\/8hLK36N3vdfn+qxbSXxzDumVENdPuN6NGqGCRKNLuZJAHcgakwzMUFygDo81+LxKjZItT1RfHzrnJIrhAp0SdlpPiptuvsxbp5raiBRlpW3+LcI0Oi\/XhUJS6bWV6Lh4dvq4VLQhPuuRm6IUFGVxHcujkTdK5upLEqMvMZGLhW48SW4FHs\/WHcVVTXqTYmeV+pDKM+eTX1PY7Lfol0aW9blZ8mi0LfqNlCh2zd48gCnSg1bgLZvZnCwG6jhRLDO710WxA+fEBb8XVCLOYNYK2VSH8qG067enpEySkjvXSfWyc6YcRiDJz0icWV+X2of8pFdFfxtA3ZJaxmnweH5hgDkQllDXXwZwHoo9HFSKwHEk52Hk0GN8VlXPL3Ck6KETILfCXRBIWHonwsdKAkXMAvZhGBdhMCbCsyYL+cuSaqkrwYl+hfSKsxVby+1S9j3y99BW\/lJKaQY9jh1FR2pPHyf8Y3K8WQvf8csAmk2h1K435wOe4lCpzYvqAezgycwMSlNjuj7GUjWkITeLSdJuCQ+DYLDtdYKegjIivcvuW9qRVyMWMwDSv9jHD1PH65W6zCaBULy0ilA6Em4v0r\/B0NBusnzaTXuk2K7RbHzU74z\/mkVp9twwzeIlv\/t9u3M3o8vR2Qo7p1kZEHzJW5S2gtTOxejsVYt0\/OHTdZNYAZGhx4lRNMb9foV51uMCOL77SwoXLpmVlZDpD7zfLpA\/3mrDDxuXetWa8gH52nrDfyHBTP9JX9OXPtGTbrIIupnmDnRGSMINAyqyhIcUv9\/fd9KzZrhptkYolJpDfUn\/UmuqBO\/dUSzAyeeASz2RLFLhH8xABrUIudpH8hbwRefWo2tBRMqYf6QKm2TqJfVwgP2zysrzsfcFOM3E4MQ0TAZQ86GIMZEnV+e92+SnbO8SiEEkWPK0LjqjfyjJzk3AHDJjdq5dWIMqVlOrcnmmQmUotgR6QfWaGyaVllSYhSb2qBCX3QnCXU\/bc8Ck8L666pJdtKjfK3m966Fp\/e5eBdJpR0QURtB54F69zYme+KybPx\/PsEJU1hRtf9o0erDiVBW\/QsVTZqt1902u9J03oZDSCBGu50ZbGJ9Wy9IBL5F28xsjsX0lI8IA1YC","iv":"e27dea4adda6f38367cf6a2ba536a1c8","s":"c6a2d330078cbc85"}
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