Earthquake of 251 billion euros in the luxury market in the world The rich stopped buying the giants of the European fashion industry grounded! The Financial Times wrote in a report: The luxury goods industry has been based on a powerful concept for years; that the rich will not stop buying several thousand dollar bags, brand name clothes and expensive jewelry even during the economic recession. The luxury goods market does not depend only on billionaires and the traditional rich; An important part of its growth in recent years was provided by the affluent middle class and consumers. China's economic slowdown and the fever of the global stock markets intensified the recession of the European luxury goods industry. The largest European luxury goods manufacturers lost approximately 250 billion euros in market value this year. The most severe drop in value was associated with LVMH and Hermès, the two biggest giants of this industry; So the market value of these two companies is 131.6 billion euros and 93. It decreased by 3 billion euros. Details of the report. Yes, Instagram.

Earthquake of 251 billion euros in the luxury market in the world The rich stopped buying the giants of the European fashion industry grounded! The Financial Times wrote in a report: The luxury goods industry has been based on a powerful concept for years; that the rich will not stop buying several thousand dollar bags, brand name clothes and expensive jewelry even during the economic recession. The luxury goods market does not depend only on billionaires and the traditional rich; An important part of its growth in recent years was provided by the affluent middle class and consumers. China's economic slowdown and the fever of the global stock markets intensified the recession of the European luxury goods industry. The largest European luxury goods manufacturers lost approximately 250 billion euros in market value this year. The most severe drop in value was associated with LVMH and Hermès, the two biggest giants of this industry; So the market value of these two companies is 131.6 billion euros and 93. It decreased by 3 billion euros. Details of the report. Yes, Instagram.