1537 GMT - Luxury companies are facing a phase of recalibration in China with some negative trends after years of strong expansion in the country, Prada Chief Executive Officer Andrea Guerra says in an interview. China was once a growth driver for the sector but has recently become a headache for some brands, as Chinese consumers reduced their luxury purchases in light of the country's economic woes. "I'm not worried about this in the long term," he says, adding that luxury is a structurally growing industry. The sector is grappling with a more challenging environment but is not in negative territory, he adds. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 07, 2025 10:38 ET (15:38 GMT)
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