Top fashion brand Louis Vuitton is expected to increase prices in China by as much as 20%.
Beiersdorf chief executive Vincent Warnery said the company had seen the first signs of recovery in China and the global travel retail business, fuelled by the country’s reopening. Reckitt Benckiser, which makes Nurofen tablets, cold remedy Lemsip and Durex, saw a pick-up in China after a decline in volumes because of lockdowns.
Resilient sales in China would be a relief for companies struggling with higher energy and wage costs, particularly in Europe, at the same time as rising prices of food, energy and rents are forcing consumers to be pickier about what they buy. Chief marketing and operating officer Roberto Eggs told a call with analysts yesterday evening that the company saw double-digit sales growth in China before and after the Lunar New Year holiday in January.
Source: Financial Digest (financialdigest.net)
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