Global Luxury Stock Market Plunges, More Than $50 Billion Evaporated

5月 24, 2023

On Tuesday, May 23rd, the global luxury stocks market experienced significant volatility. All 26 stocks covered by Luxe.CO Monthly Luxury Stocks Report witnessed a decline, particularly in the European luxury market. French luxury giant Hermès, Italian luxury group Moncler, and the world’s largest luxury conglomerate LVMH all suffered single-day drops exceeding 5%.
Considering their current market capitalization, these luxury conglomerates collectively lost over $50 billion in a single day.

Notably, this marks the largest single-day decline for LVMH in over a year, with the las …