Stocks of luxury goods makers from handbags to shoes and accessories fell sharply Tuesday, as investors reacted to the news that China had devalued the yuan, a move expected to hurt those companies that make a large part of their revenue in China. Salvatore Ferragamo SpA shares led the rout, falling 5.3%. China is Ferragamo's biggest market, accounting for 19.5% of overall revenue, according to FactSet data. Shoemaker Tod's SpA , also listed in Milan, was down 3.8%. China is Tod's second-biggest market after Italy, accounting for 21.6% of sales, according to FactSet. Gucci parent Kering SA [s:fr:ker] was down 3.3% in Paris. China is Kering's second-biggest market after the U.S., accounting for 13.5% of overall sales, according to FactSet. LVMH shares were down 5%. China is that company's second-biggest market with a 15.2% market share. Coach Inc. shares shed 1.6%. China is Coach's third-biggest market, accounting for 7.3% of revenue, according to FactSet.
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