As organic sales momentum slows even more than initially expected and visibility on a potential rebound in luxury sales in China is really low, the French group is increasing its prices.

Over the summer, luxury consumption remained strong only in Japan, driven by Chinese tourism, while the Chinese cluster slowed down, the US cluster did not improve as much as expected and Europe delivered a mixed picture.

On the continent, many consumers have adopted a wait-and-see attitude, victims of “greedflation” and price increases by many brands after COVID-19 “simply because they could get away with it rather than simply because they were a reflection of inflationary pressures. Is there a glimmer of hope at the end of the tunnel for the luxury sector?