Market Value of LVMH, Hermès and Other Brands Declines

The combined market value of six of Europe’s largest and best-known brands has fallen by around €251 billion since the beginning of the year.

According to experts, the main reasons for the decline are a noticeable weakening of demand for luxury goods in China’s domestic market and instability in international stock markets.

The companies that suffered financial losses include world-famous brands such as LVMH, Hermès, Kering, Richemont, Prada and Moncler.

Among them, LVMH recorded the largest decline in market value, losing €131.6 billion, while Hermès lost €93.3 billion.