Longchamp's cautious optimism

The economic downturn in Europe and the United States and corruption clampdown in China have left many luxury retailers struggling, but at the more affordable end of the market, some brands are enjoying strong sales. Sun Yuanqing reports.

It might not be the most prosperous time for luxury retail worldwide, but for certain brands, the outlook is not so grim.

French luxury house Longchamp reported global sales of 495 million euros ($462 million) in 2014, an 8 percent rise from 2013, thanks to a strengthening global retail network and expanding product ranges.