hermes Are Hermes Stocks Down? A recent Reuters article states that Hermes, the luxury giant, previously known to be an untouchable brand are down by 6% in their shares. However, other luxury brands like Gucci and Burberry, have seen better days as well.
Luxury Brands Luxury Fashion Downturn: Customers Prefer Buying from Third Party over Snobbish Boutiques Louis Vuitton’s goods on Dewu grew 11% to 2.6 billion yuan ($358 million) in H1 2024, accounting for over 14% of their China sales. Other labels like Christian Dior, Hermès, Chanel, and Prada also saw double-digit growth.
Burberry Luxury Fashion Brands in Further Decline, Burberry and Hugo Boss Hit Hard Burberry, Hugo Boss, Swatch Group, and Richemont recently reported disappointing second-quarter earnings, signaling challenges for luxury brands in Asia. Burberry shares plummeted over 16%, while Hugo Boss shares dropped nearly 7.5%.
