Louis Vuitton struck by China's luxury dip and shutters stores

Louis Vuitton has "strongly denied" reports that it is set to shutter up ot a fifth of its retail network in China. "As announced by LVMH Group many times, Louis Vuitton’s retail strategy in China is to optimize the quality of its store network," said the fashion house in a statement to WWD. "Our aim is to offer the best service and experience possible to our clients in China."