Three of the world’s largest luxury conglomerates opened just 29 stores in Europe last year, down 20 per cent on 2023, in the latest evidence of a slowdown in the sector.
LVMH Moët Hennessy Louis Vuitton, which owns Christian Dior and Tiffany & Co, opened 15 stores, ahead of Richemont at 11 and Kering at only three, said real estate broker Cushman & Wakefield. The three companies opened 36 stores in total in 2023.
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Bloomberg
Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
