Manufacturers of premium products increased their sales in the Thai market due to the decline in demand in China. The agency writes about this Bloomberg.
According to the agency, China’s economy is currently weakening. Against this backdrop, brands such as Christian Dior, Louis Vuitton and Porsche have refocused on other Asian markets. In particular, manufacturers have activated their sales channels in Thailand.
The authors write that brands aim to compensate for the decline in demand in China in this way. Journalists noted that luxury brands are now opening their own boutiques and expanding their presence in local premium shopping malls.
The Wall Street Journal (WSJ) in December listed Problems in the Chinese economy. According to the author of the publication, there is overcapacity in this sector in China, so Chinese companies are reducing prices, postponing investments and laying off employees. Buyers are postponing their purchases, waiting for prices to drop further.
Previously in Russia guess the departure of a number of Chinese manufacturers from the automobile market.