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Luxury Slump Hits Shop Launch Across Europe's Toniest Streets
March 02, 2025
|Financial Express Kochi
Choppy recovery from demand surge post pandemic
THREE OF THE WORLD'S largest luxury conglomerates opened just 29 stores in Europe last year, down 20% from 2023, in the latest evidence of a slowdown in the sector.
LVMH Moët Hennessy Louis Vuitton SE, which owns Christian Dior and Tiffany & Co, opened 15 stores ahead of Richemont at 11, and Kering at only three, said real estate broker Cushman & Wakefield. By contrast, the three companies opened 36 stores in total in 2023. The slowdown reflects the luxury industry's choppy recovery from an extraordinary surge in demand after the pandemic, followed by a slump in spending, particularly among Chinese shoppers.
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