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Luxury sees strong revenue growth but struggles in Europe
26 April 2021
Luxury sees strong revenue growth but struggles in Europe
Luxury clothing & accessories Luxury retail Luxury toiletries & cosmetics

Some of the largest companies in the luxury category have seen a strong start to 2021 but European sales have dragged behind, according to the latest company reports.

Why it matters

The luxury industry has been hit particularly hard by the pandemic due to a reliance on the travelling shopper and is seeing an uneven recovery across different markets. Online channels and sustainability are providing new opportunities for the category, though.

Takeaways

  • Global revenue on an organic and constant exchange rate basis rose 44% for Hermès, 30% for LVMH and 26% for Kering year on year in Q1 2021.
  • European...

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