French luxury: It’s not always a success anymore
With the start of the sales, luxury stores are hoping to see a surge in customers as the sector, which has long been spared, is going through a difficult period.
This is a must-visit for any visitor looking to treat themselves to a piece of French luxury . On the Champs-Élysées this afternoon, there were a lot of foreign tourists in this boutique. The French, on the other hand, are fewer in number and less spendthrift. For example, one person thought long and hard before buying a 340-euro purse. “ When you make purchases like that, it's better to think carefully, ” she says.
Sales at industry giants are plummeting: -2% for LVMH in the first quarter of 2025 and -14% for the Kering group, which owns Gucci and Saint Laurent. Price increases are the main culprits. At Chanel, their iconic bags have dropped by more than 62%, and at Louis Vuitton by more than 55% in six years. Today, many customers are saying stop.
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