Apple CEO Tim Cook has shocked with the sales warning the Apple-shareholders whose shares within a few hours, a total of 75 billion dollars in lost value. Even if the problems of the iPhone group are in part home-made: Particularly on cook’s Remarks about China was particularly registered nervous.
He probably “expects some challenges in the emerging countries, the strength of the downward movement but underestimated, especially in China,” said the Apple CEO. This sentence has caused shock in an industry that has a lot to do with Smartphones and High-Tech.
Since cook’s China warning the share prices of global luxury brands are under pressure: The parent company of the bag manufacturer Louis Vuitton lost in the stock market since then, with about four per cent, significantly more than the overall market, Burberry, it was up to minus 5.9 per cent, Prada, lost on the stock exchange in Hong Kong, in the meantime, 3.6 percent. Also, the Swiss watch manufacturer Swatch was affected (minus 3 percent).
Chinese buy a lot of luxury – until now
the Background is the rising uncertainty about how strong growth in China could weaken and if the purchase is suffering the mood for Chinese customers in a sustainable way. Western luxury items producers were affected particularly strong: China’s growing middle and upper class has become the industry the most important customer group. A study by the consulting firm Bain estimated that around a third of the global market for luxury items is omitted.
Although the pace of growth of the Chinese economy previously had cooled down, the sales of luxury items in the first half of 2018, according to a report by the US broadcaster CNN on a high level. Most of the companies have not published recent Figures. But there are signs of a possible end of the luxury boom: According to CNN, the Swiss watch industry have to pay in November, a decline in sales in China reported their business forecasts revised downwards.
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