Paris-based luxury group
Part of the group’s success can be linked to its move in hiring new talent, with Virgil Abloh taking creative lead for
According to Bloomberg, the luxury industry has seen its third year of rapid growth, largely thanks to millennial and Gen Z consumers willing to spend. Stats also indicate that much of the growth has been driven by China, despite a slowing economy in the world’s most populous country. However, not every luxury company has been able to capitalize on the market growth, as Prada recorded a 66% decrease in profits over the last four years.
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