[newnewpdro]

One would expect them to suffer in China as well if the cause were economic, which I believe is the point the parent is making.

[stephencanon]

That’s a reasonable interpretation, thanks. I’m not sure that it tells us much given that Apple and Hermès are in fairly different markets, unfortunately.

[lern_too_spel]

They're both in the luxury fashion market in China.

[stephencanon]

The population of people who can justify a $1k scarf is a small portion of the population who can justify $1k for the object they use for almost everything, even in China.

[lern_too_spel]

You can buy a scarf that works just as well for much less, and you can buy a phone that works better for Chinese consumers for much less. The reason to buy an iPhone or a Hermès scarf for a Chinese consumer is fashion.

[sonnyblarney]

Apple is not quite a luxury good. Hermes is. They are definitely in different categories.