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Tariffs Are Changing the Way Shoppers Consider Luxury Goods

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Even sales of handbags—typically a growth engine for designer brands—are down.

BY REUTERS

A Christian Dior SE luxury store in Paris, France, on Tuesday, July 22, 2025. LVMH has sold underperforming brands such as Off-White and Stella McCartney in the past year and is expected to continue reviewing assets, notably in its wines and spirits division. Photo: Getty Images

LVMH and Kering are expected to report another drop in quarterly sales, deepening investor worries about a prolonged downturn in the $400 billion luxury market as brands face the threat of hefty U.S. import tariffs.

The results, kicking off with LVMH on Thursday, will likely show that any revival in demand for pricey fashion in the key U.S. and Chinese markets remains elusive.

Uncertainty unleashed by U.S.........

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