Graphic: European luxury's $350 billion blowout

Hermes International SCA

13/10/2026 14:06

Top 10 European luxury firms lose some $350 billion in market value this year
LVMH posts larger-than-expected third-quarter sales miss in fashion, leather goods
China loses ground as driver of global luxury spending amid tougher economic backdrop
By Alessandro Parodi, Tassilo Hummel and Samuel Indyk
PARIS/LONDON, Oct 13 (Reuters) - European luxury firms have seen some $350 billion in value knocked off their combined market capitalizations this year, as hopes of a sector rebound have faded and weakness in key growth engine China has persisted.
French fashion giant LVMH LVMH.PA this week posted a larger-than-expected third-quarter sales miss in its key fashion and leather goods business, with China in focus. That dented luxury sector shares on Tuesday.
Here are five charts showing the luxury sector slowdown.
     
FASHION TOP 10: NON-STARTER
The top 10 European luxury firms on the STOXX Europe Luxury 10 .STXLUXP have lost around $350 billion in market capitalization since the start of the year.
     
LONGER DECLINE
Europe's big four — LVMH, Hermes HRMS.PA, Gucci owner Kering PRTP.PA and Richemont CFR.S — have seen their combined market cap nearly halve since around 2024. Richemont, more focused on watches and jewelry, has bucked the wider trend.
     
LVMH BOSS ARNAULT SEES FORTUNE DENTED
The slide, led by LVMH, has knocked billions off the wealth of French CEO and owner Bernard Arnault, Forbes wealth tracking data show.
     
LVMH UNDERPERFORMS PEERS
The French company, which owns fashion and leather goods brands Louis Vuitton and Dior, jewelry makers Tiffany and Bulgari and spirits brands Moet and Hennessy, has seen its shares fall over 40% this year, underperforming its luxury rivals.
     
CHINA WEAKNESS IN FOCUS
China has been a key focus. The huge Asian market, once the driver of growth in luxury spending globally, has lost ground amid a tougher economic backdrop.

 (Reporting by Alessandro Parodi, Samuel Indyk and Tassilo Hummel; Editing by Adam Jourdan and Jan Harvey)
 ((adam.jourdan@thomsonreuters.com; +54 1155446882; Reuters Messaging: adam.jourdan.thomsonreuters.com@reuters.net/))