The impact of the shop-near-home trend has been noteworthy. According to the Wall Street Journal, the China unit of LVMH Moët Hennessy Louis Vuitton SE — owner of Louis Vuitton, Loewe, Dior, and many others — saw 65% growth year-over-year in the second quarter of 2020, while Kering SA, whose portfolio includes Gucci and Bottega Veneta, recorded a 40% increase in revenue in China during the same period. Currently, demand at brick-and-mortar stores is so strong that Gucci and Hermès stores in Shanghai have limited shopper visits to avoid overcrowding. China was virtually the only bright spot for both LVMH and Kering, as global revenue for the two luxury giants in the second quarter of the year plummeted 38% and 43.7%, respectively. Read more (Jing Daily)