- Global luxury market growth is slowing amid economic uncertainty, with LVMH securing 24.3% market share.
- Hermès, Kering, and Louis Vuitton are competing in the luxury goods market amid analyst downgrades.
Hermès and Kering Report Strong North American Revenue Amid Consumer Anxiety
What happened
Hermès and Kering reported strong revenue growth in North America. This growth occurred even as US consumer anxiety remained high, with 34% of respondents citing the economy and inflation as the most important issues facing the country. Despite this, luxury conglomerates continued to refer to North America as a “bright spot” in their earnings reports.
From vogue.com
Why it matters
The reports suggest that consumer spending may be disconnecting from overall consumer sentiment, a trend observed across both mass and luxury markets. This resilience in the North American luxury sector is notable given that global luxury market growth is slowing amid economic uncertainty.
Global luxury market growth is slowing amid economic uncertainty, with LVMH securing 24.3% market share.
From vogue.com
Who's involved
- HermèsReported strong North American revenue growth.
- KeringReported strong North American revenue growth.
- Louis VuittonCompetes with Hermès and Kering in the luxury goods market.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.