Reported about 21 hours ago
The luxury industry is experiencing its first sales decline since the 2008 financial crisis, driven by China's economic slowdown and significant price increases of luxury goods, which have risen by 75% to 100% over the past five years. Former LVMH North America chair Pauline Brown highlights that these issues extend beyond China, affecting major brands like Chanel and Dior, although some brands like Hermés and Ralph Lauren continue to thrive.
Source: YAHOO