Who is growing, who is shrinking, who is merging. A portrait of the luxury sector in times of change

The 2025 results of the biggest luxury houses leave a central idea for 2026: the sector has not entered a new phase of widespread expansion. A joint snapshot of the results of the largest groups and companies in the sector – LVMH, Kering, Hermès, Prada, Burberry, Capri, and even L'Oréal and Inditex – shows that there is no...