Luxury Stock Price Drops, Analysts Assert Positive Fundamentals Unaltered

5月 26, 2023

On May 23rd, the global luxury stock market experienced significant turmoil: all 26 stocks covered by the Luxe.CO Monthly Luxury Stocks Report witnessed declines, particularly in the European luxury market. Luxury giants such as Hermès in France, Moncler in Italy, and LVMH, the world’s largest luxury conglomerate, all saw single-day drops exceeding 5%. Based on market value at the time, these luxury conglomerates collectively lost over $50 billion in a single day.
Following the major turbulence on May 23rd, luxury companies including LVMH, Kering, Hermès, and Burberry witnessed …