This Chart Shows What A Bad Year 2024 Was For Luxury

mberg@businessinsider.com (Madeline Berg), Business Insider
Fri, 12/27/2024 - 9:05am

Luxury labels — including Gucci — struggled this year, leading to poor showings for their parent companies.Artur Widak/NurPhoto via Getty ImagesLuxury powerhouses struggled in 2024 as they faced macroeconomic headwinds.The stock price of Kering, the owner of Gucci, has fallen more than 40% this year.Two luxury companies, Hermès and Richemont, managed to buck the trend.2024 was a bad year for luxury.Many of the world's largest luxury companies saw their share prices decline this year as the market for high-end goods experienced a brutal slowdown."50 million luxury consumers have either opted out of the luxury goods market or been forced out of it in the last two years," Claudia D'Arpizio, who leads Bain's global luxury goods and fashion practice, wrote in a report last month."The negative environment predicted by many in the fashion industry this time a year ago has now materialized," a McKinsey report said earlier this year.One chart — featuring some of the luxury's most notable companies — shows just how rough 2024 was through mid-December.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rOnly two companies — Hermès and Richemont, the parent company of Cartier and Van Cleef — managed to beat the STOXX Europe 600, an index that represents a mix of European stocks, this year.Meanwhile, share prices for LVMH — the largest of the luxury conglomerates and owner of brands like Louis Vuitton and Christian Dior — and Burberry have fallen this year.

NEXT
BING NEWS:
  • TV Shows Ending in 2025: Squid Game, Stranger Things, The Handmaid’s Tale, YOU, 9-1-1: Lone Star and 15+ Others
    TV fanatics are still recovering from a tough year of goodbyes, having bid adieu to at least 87 series that ended in 2024. And this year? We should prepare for more of the same, it seems. Although the ...
    01/2/2025 - 4:30 am | View Link
  • The Worst And Most Disappointing TV Shows Of 2024
    The worst TV shows of 2024 have one thing in common: They’re all either spinoffs of previously established franchises, or later seasons in shows that used to be great—or some combination of the two.
    01/1/2025 - 7:53 am | View Link
  • 18 of the most popular TV shows this year, ranked from worst to best
    Critics loved the new season of "Abbott Elementary" and new releases like "Shōgun," but shows like "The Veil" didn't impress them as much.
    12/27/2024 - 5:25 am | View Link
  • This chart shows what a bad year 2024 was for luxury
    Many of the world's largest luxury companies saw their share prices decline this year as the market for high-end goods experienced a brutal slowdown. "50 million luxury consumers have either opted out ...
    12/27/2024 - 3:05 am | View Link
  • The 10 best TV shows you didn’t watch this year
    From Netflix’s hilarious Black Plague comedy to a BBC sitcom about autism, here's the best TV that flew under the radar in 2024 ...
    12/21/2024 - 5:52 pm | View Link
  • More

 

NEXT
Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

Movies With Butter More Movie News

More Business News