Luxury brands were riding the subway instead of lounging in limos this year, though a couple of brands were able to buck the trend.
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Hermès reported financial results on Thursday that showed the scarf and handbag maker is doing pretty well.
LVMH shares fell 3.7% after it announced that sales at its core division fell for the first time since 2020.
Italy’s antitrust agency has opened an investigation into Dior and Armani over allegations of worker exploitation.
LVMH Moët Hennessy Louis Vuitton acquired Spiza, the parent of high-end Swiss watchmaker L’Epée 1839, on Monday.
The massive private-equity investments are causing concerns about its impact on the wealth management industry.
New filings with the Securities and Exchange Commission are requesting permission to launch ETFs that hold both public and private assets.
High-profile lawsuits and SEC investigations over cash sweeps have taken the industry by storm.