Luxury Hits the Wall. What’s Going On and What’s Next?
Steve Dennis
NOVEMBER 16, 2024
Recent earnings reports from the world’s top luxury players have largely brought bad news. Moreover, a fair amount of uncertainty and chaos has been in the air all year as money-losing online-only players like Farfetch and YNAP have run into the arms of new corporate owners. Saks Fifth Avenue and Neiman Marcus, along with Tapestry and Capri Holdings, looked to merge as their sales and profits lag.
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