The return to growth in luxury does not prevent the giants of the sector from rationalizing their portfolio.
After collapsing with the appearance of Covid-19, first in China at the end of January 2020 and then in the rest of the world six weeks later, the market had gradually recovered by the end of spring.
The recovery accelerated in 2021: over the year as a whole, the luxury market exceeded its 2019 level by 1%, according to the firm Bain.
But behind this average, the gap has widened between the best performing brands and those in poor health before the pandemic.
Enough to encourage groups, even the fittest, to asset reviews.
LVMH has discreetly sold Thomas Pink (shirts) and Nicholas Kirkwood (shoes) and ceased the fashion activities of Fenty, the label launched with Rihanna.
Read alsoCartier and Kering announce the creation of a jewelry pact
For its part, Kering (Gucci, Yves Saint Laurent, Balenciaga, etc.) will sell Sowind, owner of the Swiss watch manufacturers Girard-Perregaux and Ulysse Nardin.
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