Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Tuesday, October 21st, and I'm your host, Kim Khan. Our top story so far,

luxury brands selling in China are charting new paths to reach consumers. At the Business of Luxury Summit in

Hong Kong, speakers described a luxury market adapting to deep structural and generational changes.

Notably, China's GDP growth slipped to 4.8% in the third quarter, its slowest pace in a year,

with economists warning that a deflationary mindset and property slump are eroding household

wealth and consumer confidence.

Louis Vuitton's ship-shaped concept store in Shanghai was said to dramatically showcase

how global brands are leaning on experiential strategies. Derek Sulgar, founder of Lunar Capital

and the owner of Shanghai Tang, said the hospitality venture at the Louis is attracting affluent

tourists and business owners

for provinces rather than local shoppers in a sign of how luxury spending is increasingly dispersed across regions.

Panelists at the Luxury Summit acknowledge that despite economic headwinds,

China's appetite for premium goods still endures, particularly in lower-tier cities.

Olivia Plotnick of Why Social echoed that, noting surprising vibrancy in cities such as Shantu,

where foot traffic and upscale malls remain strong, even amid tepid GDP growth.

She emphasized that younger consumers in these markets are first encountering luxury through

Chinese brands, unlike previous generations who associated it primarily with foreign names.

Analysts noted that the theme of lower-tier cities supporting luxury spending in China is relatively

new, but other panelists highlighted that the consumption slowdown in China is psychological,

not structural, noting that the money is still there. Along active stocks, 3M posted stronger

than expected third quarter earnings and

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