China growth will slow: Pernod Ricard

Pernod Ricard, owner of Absolut vodka, Martell cognac and Jameson whisky, says explosive sales growth in China is slowing but an expanding urban elite still makes the country one of the most promising markets.

Makers of luxury goods from designer clothes to sparkling wine are looking to China as a key growth market. A cooling economy and a crackdown on the lavish spending of Chinese officials have tempered those hopes. But many brands are launching initiatives to attract new customers.

via Business feed http://www.scmp.com/business/companies/article/1248072/china-growth-will-slow-pernod-ricard