Read Fashion Luxury News & Analysis Here | Business of Fashion
4 days ago · The luxury industry was under pressure in 2024 as customers pulled back on high-end purchases. Brands from Chanel to Valentino to Fendi changed their creative lineups, hoping to jump-start demand. But the struggles at Gucci and Burberry show how tricky executing a designer relaunch can be.
Global Luxury Sales to Fall 2% in 2024, Bain Says | BoF
Nov 13, 2024 · Sales of personal luxury goods are projected to fall 2 percent this year, marking one of the weakest performances on record, as price hikes and economic uncertainty shrink the industry’s customer base, particularly in China.
Shares of Luxury Brands Are Tumbling in a Sign Consumers’ High …
Oct 16, 2023 · Shares of the European luxury giant have fallen about 20 percent over the past six months, and according to Bloomberg, LVMH has led a sell-off that’s erased $245 billion in value from Europe’s seven biggest luxury firms in that time. “Today’s news that LVMH’s revenue growth has slowed dramatically likely marks the end of a global ...
Executive Memo | Luxury Has a Pricing Problem. What Now?
Dec 17, 2024 · Rebalancing luxury’s value equation through a mix of more accessible pricing and reinforced craftsmanship and creativity will be key to reigniting demand in the sector. In this memo to BoF’s Executive Members, learn more about: How price increases are impacting luxury demand; The latest data on how luxury prices evolved in 2024
China Should Brace for Higher Luxury Goods Taxes, Analysts Say
Oct 20, 2021 · “Given China’s efforts to realise common prosperity, we expect China to expand consumption tax to cover more luxury consumer goods and exclude select low-price goods,” the CICC analysts wrote. “In addition, we think that consumption tax is also likely for service consumption at select high-end entertainment venues.”
Inside Luxury’s Slowdown | BoF - The Business of Fashion
Oct 14, 2024 · But how and when the luxury conglomerate will regain momentum remains an open question. A recent note by UBS analyst Zuzanna Pusz forecast third-quarter sales down 1 percent at LVMH’s fashion and leather goods division, which houses key brands Louis Vuitton and Dior, saying there was “no recovery in sight” for the group.
luxury / Leather Goods - The Business of Fashion
Apr 25, 2024 · Luxury Case Study | Inside Hermès’ Best-in-Class Leather Goods Strategy. How a unique approach to supply chain, design, communications and retail has powered blockbuster demand for iconic bags like the Birkin and Kelly, enabling the French leather goods house to face down rivals and become a global megabrand with a market capitalisation greater than Nike’s.
Kering Seen Closing Property Deal in Early 2025 to Cut Debt Load
Dec 18, 2024 · Kering, like other luxury goods companies, has been hit hard by a slowdown in demand, particularly in China. The company has been looking for ways to put its house in order, with Chief Financial Officer Armelle Poulou saying during an October analyst call that she expected Kering to have net debt of about €11 billion by the end of this year ...
Hermès Faces Slowest Quarter in Years as Luxury Woes Spread
Oct 23, 2024 · A slowdown in the appetite for luxury goods has deepened, as shown by LVMH’s third-quarter sales slump, and China’s consumer confidence is back to pandemic lows, Aitken noted. Hermès’ organic revenue growth in Asia-Pacific excluding Japan probably slowed to 2.3 percent in the quarter from 10.2 percent in the same period last year ...
Rich Chinese Shoppers’ Appetite Slows as Confidence Falters
Nov 15, 2023 · The overall luxury goods and apparels segment in Europe reported slower sales growth in the third quarter compared with the first half, with disappointing demand in China and the US causing the slowdown, according to a note from Bloomberg Intelligence’s Laurent Douillet and Tim Craighead this week. By Bloomberg News