Europe’s luxury brands are facing challenges amid a tough global economy and China’s economic downturn. Major companies like Kering, Burberry, and Hugo Boss have issued profit warnings. LVMH reported minimal growth in its leather-goods unit. Analysts express concerns over future revenue and profit margins for the sector.
How Europe’s ‘luxury answer’ to US’ ‘Magnificent Seven’ tech cos is staring at $200 bn-plus loss
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