Luxury Market ChallengesThe luxury segment shows no immediate signs of recovery, as the sector continues to grapple with a sluggish China, among other things, which remains a key concern for major industry players.
Sales Decline3Q24 sales declined by 6% YoY to Eu17.6mn, primarily due to a weak demand in the leather and footwear segment, which remains impacted by ongoing challenges in the luxury industry.
Sales Forecast ReductionNo signs of a near-term recovery in the luxury market, leading to a slight trim in FY24E sales by 2%.