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Wealthy Chinese buyers are unlikely to be put off by a relatively marginal price hike on already expensive cars

China ups tax on 'super cars' in luxury crackdown

China will impose an extra 10% tax on super cars and other luxury models costing 1.3 million yuan and above, in a bid to rein in lavish spending and to reduce emissions, the ministry of finance has said.

Business • 01 Dec 16

Mulberry said its profit before tax rose to £6.2m for the year ended March 31

Mulberry's profit surges on expanded product range

British handbag maker Mulberry Group posted a three-fold jump in full-year pretax profit as it attracted a large number of customers with a more affordable product range.

Business • 16 Jun 16

A drop in tourist spending in continental Europe and weak demand in Hong Kong have depressed Burberry's sales

Lower tourist spending hits Burberry sales growth

Luxury fashion brand Burberry said tough conditions would hit profit in the year ahead after a drop in tourist spending in continental Europe and weak demand in Hong Kong.

Business • 14 Apr 16

Swatch said a new share buyback programme from 2016 to 2019 would be worth up to 1 billion francs

Swatch's sales and profits hit by strong franc

Swiss watchmaker Swatch Group today reported a worse than expected 21% drop in net profit to 1.12 billion Swiss francs ($1.10 billion) on a drop in sales.

Business • 03 Feb 16

Watch sales represent about half of Richemont's total sales

Richemont shares tumble after warning of tough H2

Weak demand for luxury watches in Hong Kong and Macau spoiled the picture for Cartier-owner Richemont in the six months to September.

Business • 06 Nov 15

Chinese shoppers account for 30-40% of Burberry's global revenue

Sharp China slowdown hits Burberry sales

A sharp sales slowdown in China and Hong Kong led Burberry to miss forecasts for first-half sales growth and warn of an increasingly challenging environment for luxury sales.

Business • 15 Oct 15

Mulberry posts a loss of £1.1m for the six months to the end of September

Mulberry sees signs of improvement after H1 loss

Mulberry slumped to a first half loss as it counted the cost of an ill-fated push upmarket but said a return to its lower priced roots had seen sales rise more recently.

Business • 04 Dec 14