The luxury industry is losing its shine. When Paris 2024 Olympic medals—designed by LVMH-owned Chaumet—began corroding, it foreshadowed deeper troubles. LVMH, the titan behind Louis Vuitton, Dior, and Tiffany & Co., saw its stock dip after a post-COVID boom.
Half-year profits fell 15%, with fashion, wine, and leather goods hit hardest. Even rival Kering, owner of Gucci and YSL, reported steep declines. Analysts cite rising prices, overstock, and waning demand—especially in China, where cautious consumers now buy more locally.
LVMH’s Post-COVID Boom Fades Amid Sales Slump and Tariffs
Tariffs from the Trump administration further complicate matters, threatening supply chains and U.S. sales. While brands like Rolex and Hermès remain resilient, others face a reckoning. Bain & Company predicts a 2–5% global decline this year, urging brands to rethink their strategies.
This has now been the trend for social media influencers and luxury enthusiasts. YouTubers are discussing the pricing crash these brands may endure. YouTuber, Cassie Thorpe, who has a massive following has shown the dropping of prices for the conventional handbags in barely used condition.
She adds that major brands like Chanel used to have sales discreetly. However, nowadays, it seems their sales are quite open, especially with other influencers promoting it on social media platforms like TikTok.
However, these brands are still worth a substantial amount of money, and consumers are still buying from them despite the drop in sales.
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