London | From luxury brands to carmakers, European companies are taking a hit from China’s slowdown, and more trouble is coming for businesses heavily reliant on demand in the Asian economic giant.
Hugo Boss, Burberry Group and Daimler Truck Holding are among the high-profile names whose bottom line has been hurt by Chinese customers turning more cautious. LVMH joined the growing list late on Tuesday (Wednesday AEST), reporting that sales in the region that includes China dropped 14 per cent in the second quarter.
