European luxury stocks slide as investors remain cautious about recovery

LVMH Moet Hennessy Louis Vuitton SE

03/09/2026 10:55

       Sept 3 (Reuters) - European luxury stocks fell on
Thursday, extending recent losses as investors grew increasingly
cautious about the sector's recovery prospects.
    Shares in sector bellwether LVMH  LVMH.PA  fell 2.3%,
extending a recent slide to their lowest price since 2020, while
French peers Hermes  HRMS.PA  and Gucci-owner Kering  PRTP.PA 
dropped around 3% each.
    Elsewhere in Europe, Brunello Cucinelli  BCU.MI , Richemont
 CFR.S  and Burberry  BRBY.L  lost between 1% and 2%.
    Luxury companies remain under pressure after years of
slowing sales and lacklustre earnings. Cautious forecasts and
weak signs of a rebound in spending by wealthy shoppers have so
far held back hopes of a comeback.
    The STOXX Europe Luxury 10 index  .STXLUXP , which tracks
top luxury goods makers, hit its lowest level in nearly three
months, taking its year-to-date decline to 19% and bucking a
broadly steady market. 
    Analysts at Bank of America said in a note that industry
data for the third quarter pointed to a slowdown in demand of
about 3 percentage points compared with the second quarter, with
weakness most evident in the U.S., Japan, South Korea and Asia.
    Equita analyst Paola Carboni said valuations in the luxury
sector appeared less demanding, though the backdrop remains
fragile.
    "Visibility on the confirmation of similar growth trends in
the second half (of the year) is still limited considering the
more difficult comparison base and the macro and geopolitical
context," Carboni said.

    (Reporting by Gianluca Lo Nostro and Elisa Anzolin; Editing
by Milla Nissi-Prussak)
((mailto:gianluca.lonostro@thomsonreuters.com;))