Slowing growth in China will hit profits at French spirits group Remy Cointreau and German fashion house Hugo Boss(Clothing Display), the two companies warned.

Shares in Remy Cointreau fell 9% on Tuesday morning after it said flagging sales in the world's second largest economy would trigger a double-digit decline in full-year operating profit.(Clothing Display)

The producer of champagne and premium cognac and other spirits said operating profit fell 6.2% to €132.7m (£111m) in the six months to 30 September, while sales fell 6.3% to €558m.

"Although the group maintained a strong momentum in the US and Europe, this did not offset the slowdown recorded in China(Clothing Display)," the company said.

"In an uncertain economic environment in Europe and against the backdrop of a sharp slowdown in China, which remains impacted by high inventory levels in distribution and poor short-term visibility, the business(Belt Display) environment will be less favourable in the second half of the year."

It said it remained confident in the medium and long-term outlook for China.

Meanwhile Hugo Boss said it would not meet its target of €750m in core operating profit in 2015 as a result of slower-than-expected growth in China and Europe.

Its chief executive, Claus-Dietrich Lahrs, said global growth rates had turned out to be lower than the company(Cosmetic Display) had expected when it made its 2015 forecasts at the end of 2011.

"A particular concern is China," he told investors at an event in Hong Kong.

"Compared to what we were used to, the long period of low-hanging fruit, China came down to a rather disappointing growth(Clothing Display) rate for the luxury industry in 2013." The company's shares fell 6%.