Europe luxury firms lose $350B in value

The largest European luxury goods companies have suffered losses amounting to approximately $350 billion in market value since the beginning of 2026, due to declining demand in the Chinese market and weak growth prospects. Companies such as LVMH, Hermès, Kering, and Richemont have experienced sharp declines in their market valuations, with LVMH's stock dropping by more than 40% since the start of the year. China is one of the sector’s key growth drivers, but difficult economic conditions and decreasing demand for luxury products have led to a loss of confidence in the sector’s recovery, negatively impacting company valuations and their shares.

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