The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Shares in French luxury goods companies LVMH and Kering fell on Monday after weak economic numbers from China, a leading market for many of the world’s top fashion companies.
Kering was down 1.7 percent in early trading while LVMH retreated by 1.3 percent. Rival French luxury goods company Hermès also fell 1.2 percent.
China’s economy grew at the slowest pace in a year in the third quarter, hurt by power shortages, supply bottlenecks and sporadic Covid-19 outbreaks.
By Sudip Kar-Gupta; editor: David Goodman.
Learn more:
China in Focus as Luxury Brands Report Results
This week, everyone will be talking about financial results from Kering and Hermès, plus Bottega Veneta’s show in Detroit
How did Miu Miu grow by 58 percent last year? CEO Benedetta Petruzzo breaks down the plan that’s powered eye-popping acceleration in a slowing luxury market.
Luxury brands aren’t cutting back exactly, but the days of spending ever more of the budget on custom dresses and celebrity ambassador contracts may be coming to an end.
The Milan-based group’s continued acceleration in a slowing luxury market could ease pressure on its new generation of leaders as Miuccia Prada and Patrizio Bertelli plan their succession.
Now up for the LVMH Prize, designers Everard Best and Téla D’Amore are looking to fuel the next phase of growth for their hyped brand — known for its die-hard community and ultra-detailed denim.