The half-year results season continues in the luxury sector. This week’s results confirm a trend that was already apparent last week: the luxury sector is experiencing mixed momentum, with very disparate performances among the major groups.
After positive results from Richemont, Hermès, and Prada, figures released this week by LVMH, Moncler, Hilton, and Burberry point to a more uncertain climate.
Disparate results: a sector operating at different speeds
Disparate results: a sector operating at different speeds
At LVMH, despite Bernard Arnault’s reassuring comments, revenue growth slowed to 3%, while operating margin fell by 2 points.
Moncler, meanwhile, recorded modest revenue growth of 4%, but saw its net profit fall by 5%. Burberry posted a modest increase of 2%.
This divergence in trajectories highlights the strategic importance of the most promising segments, particularly jewelry, which remains a major growth driver.
In the luxury hotel sector, Hilton maintained stable growth of 7%. The group illustrates the strong demand for high-end stays, with the number of ultra-luxury hotel rooms expected to grow by 12% by 2033.
🧵 Creative renewal as a lifeline for luxury groups?
However, with steady growth and a remarkable ability to inspire desire and loyalty, some luxury brands are proving that it is possible to stand out despite not having a jewelry division. Their success is based on a strong identity, recognized craftsmanship, and an authentic connection with their customers. This is the case, for example, with Brunello Cucinelli.
For houses such as Gucci, whose results have been particularly disappointing in recent years with a decline in sales of nearly 7%, a creative revival is eagerly awaited. This renewal is often seen as essential to rekindle desire for the brand and boost performance, as Dior recently demonstrated with its change of artistic direction.
We are also eagerly awaiting the next results from Accor and Kering, although the outlook for the latter looks rather disappointing.
📌 In summary: As we approach a potentially decisive second half of the year, the ability of groups to adapt, innovate and respond to constantly changing demand could further widen the performance gap.
Finally, as a reminder, according to a recent HSBC study, the luxury sector could see average annual growth of 4-5% between 2026 and 2030, driven in particular by jewelry, the Asian market and new customer segments. This forecast points to a significant recovery after a period of slowdown.
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Read also > The Luxury Weekly: The luxury industry faces a mixed second half – Luxus Plus
Featured photos: © Luxus Plus
