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Feb. 8, 2019, 3:19 p.m. EST

China : Birkin bag maker Hermes says Chinese sales momentum still strong

Feb 08, 2019 (Euclid Infotech Ltd via COMTEX) -- French luxury handbag label Hermes said on Friday that sales momentum in its Chinese stores stayed strong in the fourth quarter, adding to reassuring signals from rivals over enduring demand in one of the industry's biggest markets.

Luxury groups rely on Chinese consumers for over a third of sales, sparking investor jitters over the potential fallout for the sector from China's slowing economic growth and the Washington-Beijing trade war.

Labels heavily exposed to markets where Chinese tourism appears to be on the wane, such as Coach owner Tapestry or jeweller Tiffany in the United States, suffered as a result.

But some of the biggest luxury goods players including LVMH's Paris-based Louis Vuitton have recently stressed that demand for their wares was if anything picking up in China.

Link to MarketWatch's Slice.