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Luxury Sector Outlook: Italian luxury group Ermenegildo Zegna also saw revenue fall in the first quarter, dragged down by declining sales of its Thom Browne label in the Greater China region. ....
Richemont, one of the world s biggest luxury groups after France s LVMH, China s improvement helped push it towards its highest ever quarterly sales in the three months to the end of December, noting a sequential acceleration, with December being the strongest month. ....
Maximalism has taken centre stage in the fashion world, replacing the quiet luxury trend of 2023. Luxury brands are embracing bold colours, edgier silhouettes, and a resurgence of logomania. ....
British luxury fashion house Burberry on Thursday announced sliding net profit during its first half as global demand for expensive clothing weakens, notably in China s softening economy. "The slowdown in luxury demand globally is having an impact on current trading," Burberry noted. ....
Porsche AG has reported its nine-month results in line with its annual forecast, but has warned that the luxury sector is being affected by higher costs and dampened consumer confidence due to rising interest rates. The luxury carmaker s supply chain has improved, but high inflation and significant investments for new products have kept costs high. ....