The luxury goods industry, which has relied heavily on China and North America for growth in recent years, reported disappointing sales on Tuesday.
A post-pandemic splurge is sales had already begun to slag after the months-long spending spree that has boosted the sector’s fortunes died ou
Luxury good sales in the Americas were down 4% in the second quarter.
Hermes dragged 4.21% lower, LVMH was down 3.7% and Kering slipped 1.95%.
