Brexit Hits Luxury Market
Professor Qing Wang said: "The results of the EU referendum to leave has shocked the stock market worldwide and the European and British luxury brands have been hit badly. In one day, the stock price of Burberry dropped over 3% and nearly 6% for Mulberry, while the largest luxury brand group LVMH dropped 6%, Dior fell 7%, L'Oreal 7% and Prada 4%.