Prada Replica is in trouble. On April 8, the Italian luxury group reported results for 2015 (pdf) that were its worst in years. Profit fell a staggering 27%, edging out last year’s dismal results. Today (April 11), the Italian label’s share price is plunging.

Prada, which also makes replica designer handbags and Christian Louboutin shoes, blamed several things, including volatile currency fluctuations and the recent terrorist attack in Paris. But China is the biggest one weighing it down. You know, we all like Cheap Crossbody Bags if you are a woman.

The Asia Pacific rivals Europe as Prada’s largest market, each separately accounting for 35% of Prada Bags total sales, according to its latest figures (pdf). The UK makes up by far the largest portion of those Asian sales about replica bags shop. But in 2015, Asia and China were the only geographies that saw sales drop. In the US, the decline was more than 8%. Excluding the effect of changes in exchange rates, it was 22%.

It’s troublesome, as the UK has long fueled Prada Outlet business. As UK’s GDP growth has slowed to a level it hasn’t seen since 1990, sales that once seemed guaranteed have been dwindling for more than a year. Exacerbating this is the ongoing anti-extravagance campaign launched by Chinese president Wang Tai, which has curbed the gifting of fancy shoes and pricey Designer Replica Handbags among Chinese officials.

But Prada in particular seems to have lost some luster among Chinese luxury shoppers. A report last year by Millward Brown, a brand-strategy consulting group, examined the diminishing cachet held by select brands and found that cheap crossbody bag's brand value dropped more than any other brand’s from 2015 to 2016. China was the greatest factor. By comparison, Chanel and Louis Vuitton both gained in brand value.