Around £43bn wiped off worth of Europe’s greatest vogue homes

On Jan 22, 2024

Updated: 08:08, 22 January 2024

Around £43billion has been wiped off the worth of Europe’s greatest luxurious homes this yr to this point.

The sector is grappling with a slowdown in demand from rich US and Chinese buyers.

Of the 5 high luxurious giants, together with LVMH, Hermes, Kering, Moncler and Richemont, solely the latter has not misplaced floor for the reason that finish of 2023.

Tie-up: Actress Jessica Chastain modelling for Gucci

The corporations have since misplaced slightly below €50billion – or £42.7billion – in market worth, analysts Hargreaves Lansdown stated.

Louis Vuitton-owner LVMH has suffered the steepest decline, shedding £30.3bn since 2023.

Kering, whose manufacturers embody Gucci (modelled by actress Jessica Chastain), misplaced £4.8billion.

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