🇫🇷🇨🇳 The cost of living crisis has reached the people who buy Birkin bags.
Shares of LVMH and Hermès have crashed about 40% this year, and the luxury giants now trade at their cheapest valuations in more than a decade.
Wealthy Chinese shoppers have pulled back, war-driven inflation is squeezing spending, and Dubai’s shopping hubs have been disrupted by the Middle East war.
Somewhere a billionaire is choosing between a 3rd yacht and a 4th Birkin. Tough times.
Source: Bloomberg / Writer: Julie
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THE EAGLE STATESMAN🇺🇲 @EAGLESTATESMAN ·
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@MarioNawfal Birkin bag crisis hits and the elites finally know what a grocery run feels like.



























































