China Luxury UTTERLY DEAD: LVMH Flees with $400M Desperate Exit Sale of Hong Kong & Macau Retail
China Luxury UTTERLY DEAD: LVMH Flees with $400M Desperate Exit Sale of Hong Kong & Macau Retail
Transcript
On January 19th, the world's largest luxury goods group, LVMH, officially announced that it was selling its DFS Group's retail operations in Hong Kong and Macau. The sale will go to state-owned China duty-free group for just $395 million US. Notice the price. That's a clearance price, a fire sale, a get out while you can price. LVMH's retreat is ju... Read More
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