In a global economic context marked by successive upheavals, few sectors manage to maintain lasting stability. Long seen as an unsinkable fortress, luxury, the ultimate symbol of prosperity and exclusivity, also faltered in 2024. Indeed, the fortunes of iconic figures such as Bernard Arnault, Françoise Bettencourt Meyers and François Pinault suffered colossal losses, totaling more than $70 billion. Such a decline is rooted in a set of closely related factors: a slowing Chinese economy, domestic political tensions and increased stock market volatility. These combined elements have shaken the pillars of the sector, revealing an unexpected fragility.
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