Luxury Stocks Plunge as Gucci Sales Decline Sparks Concerns
Luxury stocks across Europe recently experienced a sharp decline following a profit warning from Kering, the parent company of Gucci, signalling a notable slowdown in demand for high-end goods, particularly in China. In Paris, shares of Kering plummeted by as much as 15%, while LVMH, owner of renowned brands like Louis Vuitton and Tiffany &…