The personal luxury fashion market is losing its luster. Recent sales figures show that the industry, which proved resilient after pandemic lockdowns, is slowing down. Is luxury finally going out of style?
When athletes started to return their 2024 Paris Olympic medals after they began to corrode, it was an omen of things to come.
The medals were designed by French jeweler Chaumet, which LVMH, a luxury goods giant, owns.
Though the French mint produced the medals, LVMH suffered bad publicity after it made a spectacle of its corporate sponsorship of the games.
Source: https://www.dw.com/en/dior-gucci-and-other-luxury-brands-in-crisis-as-sales-slide-v2/a-73640638