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Global luxury sector ends 2024 on strong note despite mixed results
Luxury giants delivered a mixed bag for FY24, with 5 out of 9 companies—Hermès, Moncler, Brunello Cucinelli, Prada, and Ralph Lauren—posting strong growth in both sales and profits. Hugo Boss saw moderate growth, while LVMH, Salvatore Ferragamo, and Kering reported declines. Overall, the sector reflected a solid fiscal, bolstered by strong performances in Europe and the US, despite challenges in Asia.
Luxury giants delivered a mixed bag for FY24, with 5 out of 9 companies—Hermès, Moncler, Brunello Cucinelli, Prada, and Ralph Lauren—posting strong growth in both sales and profits.
Hugo Boss saw moderate growth, while LVMH, Salvatore Ferragamo, and Kering reported declines.
Overall, the sector reflected a solid fiscal, bolstered by strong performances in Europe and the US, despite challenges in Asia.
