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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
There are cracks showing in the most important market for global luxury. Gucci’s slump in sales, with parent Kering’s warning this week of a slowdown in Asia, prompted investor concerns about demand for the wares of Europe’s luxury groups.
Tastes in Asia — and its largest market China — are certainly changing. But a closer look at those trends suggests they won’t hit luxury groups equally. There will be winners, both among Europe’s high-end houses and a growing crop of local rivals.
China’s…