27/2/2025, 7:05:03 pm

Why Louis Vuitton is struggling but Hermès is not

Spending on personal luxury goods is expected to drop 2% in 2024, according to Bain. LVMH, the world’s largest luxury conglomerate, has seen fashion and leather goods sales decline, while Kering, owner of Gucci, has issued multiple profit warnings. Versace is now selling 40% of its products at a discount, reflecting broader challenges in the luxury market.