Chinese tourists are disappearing from major shopping capitals across the U.S. and Europe as a result of the new coronavirus, and their absence is hurting some of the world’s highest-profile luxury brands. The outbreak has exposed how dependent high-end retailers in places such as New York, Paris and Milan have become on visitors from China, who often spend more than the typical tourist. Estée Lauder Cos. and Capri Holdings Ltd., which owns the Versace and Jimmy Choo brands, warned investors this week their financial results...

Source: Wall Street Journal February 07, 2020 12:22 UTC