Luxury Sales Plunge in China as Tax Push Hits Wealthy Shoppers

Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending...

By Bloomberg News · Bloomberg Markets

Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending by the country’s richest consumers.