Home » Kering Drops 12% as Luxury Braces for Tough Winter

Kering Drops 12% as Luxury Braces for Tough Winter

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The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on ​the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and ​executives buckled in for a tough winter.