The article reports that the four largest European luxury groups, LVMH, Hermes, Kering (owner of Gucci) and Richemont, have seen their combined market value fall nearly 50% since 2024. The top 10 companies in the STOXX Europe Luxury 10 index have lost about USD 350 billion in market value since the start of 2026, as hopes for a recovery faded and weak growth in China persisted. LVMH reported third-quarter 2026 revenue below expectations in fashion and leather goods, its shares have fallen more than 40% this year, and it has underperformed its rivals. The article also notes that Asia, once a major driver of global luxury spending with China at its core, has gradually lost ground amid a tougher economic backdrop.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Ngành hàng xa xỉ châu Âu giảm mạnh do ảnh hưởng từ Trung Quốc
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