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As Richemont and Chanel publish 2024 accounts (May 2025), mind Retail analyses the health of the world's top five luxury brands—LVMH, Chanel, Hermès, Kering, and Richemont—using 5 indicators. While the global market is experiencing a second year of decline, Hermès and Richemont are standing out with gains in market capitalisation, sales growth and, for the former, a record margin of 30.3%. Conversely, LVMH, Chanel and Kering are seeing sales and market capitalisation melt away.
Key points to remember :
-Global luxury product sales dropped by 1% in 2024 after years of double-digit growth, with negative forecasts expected (between -2% and -5%) for 2025. (Source: Bain & Co.)
-Revenue down for LVMH (by 2%), Chanel (by 4.3%) and Kering (by 12%), while Hermès performed well (up by 15%) and Richemont (up by 4%) to a lesser extent. Companies which raised prices the most in recent years are posting disappointing results.
-Widespread press
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Article authors
Sophie Baqué
Chief Editor of mind Retail