Preliminary analyst estimates expect LVMH’s fashion and leather goods unit, which generates most of the company’s profits, to see its revenue fall 3.7% in the second quarter, per the report. It was reported Friday (May 16) that luxury group Richemont will continue to limit its price increases, even in the face of new U.S. tariffs, and that it has benefited from being more restrained in its price increases than some of its rivals over the past four years. Some of Richemont’s rivals in the luxury sector have seen a customer backlash over prices after announcing prices increases in the U.S. to offset the effect of tariffs and making double-digit price increases over the past five years.
Author: PYMNTS
Published at: 2025-05-21 22:37:43
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