The Italian luxury menswear group Zegna has reported a 7 percent decline in total sales for the third quarter of 2024, raising concerns about the future of the luxury market. Total revenue for the quarter hit €397 million ($429.8 million), a significant downturn attributed largely to the plummeting demand for luxury goods in key global […]
Interparfums Sales Rise 15%, Buoyed by Fragrance Demand
Interparfums, a prominent European fragrance licensee, reported a remarkable 15% increase in sales year-on-year, totaling $425 million for its third-quarter earnings ending September 30. This performance not only surpassed analysts’ expectations of $413 million but also highlights the growing consumer appeal for prestige perfumes. The company, known for producing and distributing prestigious fragrances for notable […]
LVMH Fashion and Leather Sales Fall 5%, Missing Estimates
LVMH Moët Hennessy Louis Vuitton, the powerhouse behind luxury brands like Louis Vuitton, Dior, and Loewe, reported a concerning decline in its fashion and leather goods division. The company announced a 5 percent drop in third-quarter sales, falling short of analysts’ expectations, which had forecasted modest growth between 0 and 2 percent. This downturn raises […]