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Big Western Brands Are Getting Squeezed by Chinese Belt-Tightening

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Updated Nov. 5, 2023 12:01 am ET

HONG KONG—Leading Western brands in China are feeling the pinch from the country’s consumer slump.

From luxury cosmetics firm Estée Lauder to apparel maker Canada Goose and iPhone seller Apple, companies are reporting weak results, with some saying customers aren’t reopening their wallets almost a year after Covid-related isolation ended.

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