Luxury fashion's financial standings barely balance in this year's turbulent market: Gucci, once Kering's cash cow, saw revenues fall 20% in the first half of this year. LVMH's shares dropped 5.2% after failing to meet analysts' financial expectations for the second quarter. Burberry's retail sales plummeted 22%. Balenciaga and Alexander McQueen's sales fell 7%, and Saint Laurent was down by 9%. Most of the industry's top houses have suffered from the effects of the global economy's "luxury slow...
Luxury fashion's financial standings barely balance in this year's turbulent market: Gucci, once Kering's cash cow, saw revenues fall 20% in the first half of this year. LVMH's shares dropped 5.2% after failing to meet analysts' financial expectations for the second quarter. Burberry's retail sales plummeted 22%. Balenciaga and Alexander McQueen's sales fell 7%, and Saint Laurent was down by 9%. Most of the industry's top houses have suffered from the effects of the global economy's "luxury slow...
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