LVMH reported 3Q2024 ended down 3%, with Asia off 16% and Fashion & Leather Goods down 5%. LVMH called it a cyclical downturn but it may be bellwether of worse ahead.
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Luxury Is Losing Its Lustre As American Affluents’ Priorities Shift
Latest results of Research The Affluent Luxury Tracking study reveal a HNW/UHNW American consumer balancing their spending between indulgence and restraint.
As The Luxury Market Evolves, White Space Abounds If Brands Know Where To Look
The luxury market, including its goods and experiences, will end the year up eight to 10 percent over 2022 at current exchange rates, which is pretty dynamic considering the hefty comps it is up against. Expected to hit €1,508 billion ($1.65 trillion), it will have advanced between 18 to 20 percent over 2019, according to […]
Hitting The Wall? Luxury Market Leader LVMH’s Growth Slows
On the surface, LVMH just reported very reassuring numbers in its third-quarter earnings update. Organic growth totaled 14% through the first nine months of 2023. However, the company took a 4% hit due to exchange rate fluctuations, so adjusting for that, sales advanced 10%, from $60 billion last year to $66 billion this year (€56.5 […]
Luxury Brands Must Prepare For A Reset: Here’s The How And Why
Over the last three years, the luxury market has experienced a whirlwind of change. In the lead-up to the pandemic, the personal luxury goods market grew 7 percent in 2019, reaching $300 billion globally. Then in 2020, it suffered a sharp decline, dropping an unprecedented 22 percent to $235 billion, followed by a remarkable rebound […]
