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Apple declined to comment on its prices designer replica cufflinks. But French luxury goods group Kering said on Tuesday that its Italian Gucci brand had cut prices by 3 percent, while a spokeswoman for LVMH’s Louis Vuitton confirmed its China business had adjusted prices on Friday. Louis Vuitton was “fully supportive of the Chinese government’s ongoing efforts to narrow the price gap between China and overseas,” she said. Birkin-bag maker Hermes also said it had passed on the VAT cuts to customers in China, with price drops of 3 percent from the beginning of April..

Luxury brands have in recent years gradually narrowed the price gap between Europe and China – where their wares could often be 50 percent more expensive – including following a cut in import taxes brought in by the Chinese government last year. The latest price moves follow carmakers BMW and Daimler’s Mercedes-Benz which both said last month that prices for several car models would drop following the Chinese tax changes. Several Chinese electronics retailers lowered prices for iPhones in January, discounting latest models by up to $118, after weaker-than-expected sales at end-2018 designer replica cufflinks.

The world’s second-largest economy is growing at its weakest pace in almost three decades amid lower domestic demand and a trade war with the United States. High-end fashion and handbag brands are increasingly looking to woo Chinese clients on their home turf, even though most of the spending by these consumers still takes place in the shopping capitals like Paris, Milan or Hong Kong. “Long term, luxury consumption will happen incrementally at home,” analysts at HSBC said in a note on Tuesday. “A few years ago, 75 percent of Chinese luxury sales happened outside of China designer replica cufflinks. We see that moving to 50-50 either this year or next.”..

NEW YORK (Reuters) – BlackRock Inc, the world’s largest asset manager, has made changes to its senior leadership ranks aimed at winning more business from top institutional clients and boosting growth of its alternative investing business, according to a memo seen by Reuters on Tuesday. BlackRock, with more than $6 trillion in assets under management, is giving primary responsibility for those institutional clients to executives in local regions designer replica cufflinks. It is also putting Edwin Conway in charge of BlackRock Alternative Investors, a group of complex investment products that Chief Executive Larry Fink thinks can amp up the company’s profits..

BlackRock, known best for funds that track the stock and bond markets, has been putting more emphasis on so-called illiquid alternative investments, complex investments including private equity and real estate that typically come with higher fees and are more likely to be sold to an institution than a mom-and-pop investor. Conway, previously head of Blackrock’s institutional client business, will succeed David Blumer, who is becoming an adviser designer replica cufflinks. The alternative group’s chairman is Mark Wiseman, one of several people tipped as Fink’s possible successors ..