Both the Savigny Luxury Index and the MSCI World Index suffered from profit-taking in the first half of December.
The luxury sector seems to have reached a turning point, having weathered the crises that beset it all year and buoyed by more benign currency trends.
Hermès reported third-quarter sales that beat analysts’ estimates on strong demand for leather goods in Asia and the Americas.
The Savigny Luxury Index turned around in mid October as confidence in the US economy returned and the US Federal Reserve ended quantitative easing.
The Savigny Luxury Index fell sharply over the month, losing 4.2 percent versus a flat MSCI World Index, as the industry suffers from a general slowdown and a red alert situation in Hong Kong.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
As Hermès opens its first ‘maison’ in China, BoF sits down with Weiming Cao, the company’s president for Greater China to discuss the new store, the company’s expansion strategy and building a multi-local luxury brand.
LVMH Moet Hennessy Louis Vuitton SA signed an accord with Google Inc. to tackle the advertising and sale of counterfeit goods online, ending a legal dispute between the two companies.
A long and bitter battle that has gripped the luxury goods industry and pitted two of France’s richest families against each other came to an unexpected end on Wednesday when LVMH and Hermès agreed to a truce.
LVMH Moet Hennessy Louis Vuitton SA plans to distribute its stake in French luxury-goods company Hermès International SCA to its shareholders, ending a four-year battle over LVMH’s stake-building in the Birkin bag maker.