Shoppers aren’t splurging on Gucci bags or Balenciaga shoes like they used to, and the "roaring 20s" of the post-COVID boom might be over.
Signs of slowdown in the luxury industry began with easing sales reported at LVMH, the parent company of Louis Vuitton and Christian Dior. French company Kering, which has been struggling to match up to rivals in recent years, was next in line.
