Which luxury stocks lose $30 billion in one day on demand fears? (2024)

Which luxury stocks lose $30 billion in one day on demand fears?

LVMH, Hermes Lead Slump as Europe Luxury Stocks Take $30 Billion Hit - Bloomberg.

Why did Louis Vuitton stock drop?

LVMH shares fell at market close on Tuesday after the company failed to cheer investors with its latest financial results.

What is the outlook for LVMH in 2024?

The French conglomerate said Tuesday its fashion and leather goods business grew 2 per cent in the first quarter of 2024 on an organic basis to €10.49 billion, “in line with relatively low-bar expectations”, wrote Thomas Chauvet, head of luxury goods at Citi.

What are the results of LVMH spirits?

The latest results from the conglomerate LVMH show the wine and spirits division's organic revenue falling by 4% compared to the previous year. This contrasts with a 13% organic growth in the total revenue of the group. In 2023 this was €86.2bn, with €6.6bn of that coming from wine and spirits.

What stock company owns Louis Vuitton?

LVMH, Moet Hennessy Louis Vuitton SE, is a French luxury conglomerate that owns several of the world's best-known high-end brands in jewelry, spirits, fashion, and more.

What do Louis Vuitton do with old stock?

Yes, Louis Vuitton does burn some of their unsold bags. This is a method that many luxury brands practice to prevent stock malpractices and theft. According to Fashion Coached, it is a way to maintain the exclusivity of the brand and prevent the bags from being sold in the secondary market at a discounted price.

What is the fastest growing luxury brand?

With an impressive increase of 123% in brand value up to US$4.1 billion, Lamborghini is the fastest-growing brand in the ranking.

Is it a good time to buy LVMH stock?

LVMH Moet Hennessy Louis Vuitton SE's analyst rating consensus is a Moderate Buy. This is based on the ratings of 16 Wall Streets Analysts.

What is LVMH stock price prediction for 2025?

According to the Traders Union long-term price forecast LVMH (MC) can reach €911.08 by 2025, €1,535.22 by 2030, €2,330.57 by 2034.

What alcohol does Louis Vuitton own?

In terms of wine and spirit LVMH boasts a remarkable portfolio, including Moët & Chandon, Dom Pérignon, Krug and Veuve Clicquot Champagnes, along with Hennessy Cognac and Cloudy Bay and Château d'Yquem wines.

Who is the richest LVMH person in the world?

Bernard Arnault is the world's richest man. He has a net worth of $221 billion, per Bloomberg. He controls the massive luxury conglomerate LVMH, and his children all hold roles in the business.

What liquor does Louis Vuitton own?

Moët & Chandon, Krug, Veuve Clicquot, Hennessy and Château d'Yquem are just some of the world-renowned LVMH wines and spirits brands that have become synonymous with the most prestigious origins and terroirs.

Who owns most of Louis Vuitton?

Since 1989, Louis Vuitton has been led by chair and CEO Bernard Arnault. Arnault took a majority stake in the company and has since guided LVMH in a fast-paced acquisition spree, picking up dozens of new acquisitions in the past three decades.

What does Bernard Arnault own?

Bernard Arnault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora. LVMH acquired American jeweler Tiffany & Co in 2021 for $15.8 billion, believed to be the biggest luxury brand acquisition ever.

Where do unsold Louis Vuitton bags go?

Louis Vuitton works with a strict business model and any unsold products are burned to pieces every year. This is a practice that many luxury brands have adopted as it ensures exclusiveness. The main reason Louis Vuitton destroys unsold merchandise every year is to prevent price reductions and theft.

What do luxury brands do with unsold bags?

All that is manufactured is not consumed and so a large portion of these brand-new goods is discarded and are thrown into incinerators. Yes, this is a bitter truth of the glamourous Fashion industry, making it one of the major contributors to environmental pollution by generating greenhouse gas emissions.

Where does unsold Louis Vuitton go?

Contrary to some doubts and speculation, it is true that Louis Vuitton destroys its unsold merchandise. This practice is not a mere cliche or a fake rumor but a deliberate decision made by the brand.

Who is bigger, Gucci or Louis Vuitton?

10 most popular luxury brands in the world, ranked: from LVMH's Louis Vuitton and Dior, and Kering's Gucci, to Chanel, Rolex, Prada, Versace, Coach, Michael Kors and Ralph Lauren – but which is No 1? A new study has revealed that Louis Vuitton is the most popular luxury brand in the world.

Which luxury brand is the most profitable?

LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about 124.8 billion U.S. dollars in 2023. The LVMH Group's total revenue for the 2023 fiscal year was about 86 billion euros.

Who is the new luxury consumer?

The 'New Luxury' shopper is a lucrative customer with high spending power and has the ability to challenge market expectations. It presents an unmissable opportunity for brands, which must fully immerse themselves in this segment in order to capitalize on its potential.

Who is the Holy Trinity of watches?

The Holy Trinity, also known as The Big Three, is the name given in horology to three of the biggest and oldest watchmakers in the world. The watch brands are Patek Phillipe, Audemars Piguet and Vacheron Constantin, known for their complex and high-end movements.

Who are the big 4 watch makers?

Rolex, Patek Philippe, Audemars Piguet, and Richard Mille solidify dominance. The dominance of the “Big Four” luxury watch brands—Rolex, Patek Philippe, Audemars Piguet, and Richard Mille—strengthened, gaining +203 basis points and securing an impressive combined 43.9% market share.

What are the big 5 luxury brands?

The Big 5 luxury brands – Louis Vuitton, Dior, Chanel, Gucci,and Hermes all have a significant presence on DeWu. Each of the brands have a large array of products listed and available to purchase, and in total generate significant revenue from Grey Market channels.

Which brand is quiet luxury?

The Row. This brand has become synonymous with “quiet luxury.” And true to its name, the price tags are certainly lofty. “This American brand created by Mary-Kate and Ashley Olsen focuses on perfecting elevated basics.

What is the hottest luxury brand?

Per the newest Lyst Index, Prada is the world's hottest fashion brand, taking the top spot from her other label, Miu Miu. The shopping app's quarterly index ranks fashion's 20 most in-demand brands and 10 hottest products.