European Luxury Stocks Rise on China Rebound as Hermès, LVMH Gain Over 1%
Updated
Updated · XTB · Aug 24
European Luxury Stocks Rise on China Rebound as Hermès, LVMH Gain Over 1%
3 articles · Updated · XTB · Aug 24
Summary
Hermès, LVMH and L’Oréal rose about 1.1%-1.3% in a quiet European session as investors bet China demand is starting to stabilize for luxury, fashion and beauty groups.
High-net-worth consumers are driving the rebound, even as capital outflow controls and taxation continue to weigh on the broader Chinese luxury market.
Q4 forecasts now point to better performance, with Hermès, Kering, Burberry and LVMH seen as key beneficiaries if the recovery holds.
The move builds on earlier signs of fragile spending recovery in China, where stabilizing household consumption and a rebound in high-end cosmetics had already improved sentiment.