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Recent sales figures underline simply how far demand for luxury mega-brands has fallen from its post-pandemic highs. In July, some of the industry’s biggest players reported disappointing revenues for the second consecutive quarter. LVMH, the world’s leading luxury conglomerate, missed sales estimates, whereas Gucci’s parent firm Kering replica bags, skilled a decline of 11%. Other main brands like Richemont and Burberry additionally reported disappointing figures, with first-quarter gross sales plummeting by a staggering 20%.

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