In data: Luxury market to grow to $269bn by 2028 despite headwinds [Yahoo! Finance]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance
Industry experts anticipate a stabilisation in inflation rates to re-engage shoppers and drive growth. Global luxury fashion players like Louis Vuitton Moet Hennessy (LVMH) experienced a surge in demand after the pandemic, with the conglomerate's Q1 FY23 sales jumping 16.8% to €21.0bn ($22.5bn) as eager shoppers unleashed their pent-up spending. GlobalData's apparel analyst Louise Deglise-Favre noted at the time that this was due to strong demand from locals and international tourists, especially from China as the government lifted mandatory quarantines for travellers in December 2022. She explained: "Europe's impressive performance is also testament to the wealth of local luxury shoppers that continues to protect them from economic challenges, allowing them to keep spending on luxury goods, despite the region suffering from cripplingly high inflation rates and looming threats of recession." However, this momentum waned by the end of 2023 as the luxury market grappled with in
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