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Luxury Slump Hits Shop Launch Across Europe's Toniest Streets
Financial Express Kochi
|March 02, 2025
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.
Bu hikaye Financial Express Kochi dergisinin March 02, 2025 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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