Shares of LVMH and Hermès have crashed about 40% this year, and the luxury giants now trade at their cheapest valuations in more than a decade.
Wealthy Chinese shoppers have pulled back, war-driven inflation is squeezing spending, and Dubai’s shopping hubs have been disrupted by the Middle East war.
Somewhere a billionaire is choosing between a 3rd yacht and a 4th Birkin. Tough times.
Source: Bloomberg / Writer: Julie




