Lure of luxury ebbs in market now 'saturated'

Some major international luxury groups experienced a sales slowdown in China in the first half of the year, even as the European market continued rebounding.

The growth of Kering SA's luxury division in China slowed to an average of 6 percent in the first half. The luxury group, which owns Gucci and Bottega Veneta, released its interim report on Thursday.

But sales growth in China was 21.5 percent in the first half of 2012 and 45 percent in 2011.