The global luxury goods market was under significant pressure in 2025: of the 15 largest companies in the sector, only four were able to demonstrate revenue growth. Tariff conflicts, geopolitical risks, and rising costs have tested the industry's resilience and ability to maintain pricing power.

Gucci recorded the most significant decline, down 21.7% year-on-year. Burberry declined 17.1%, and Saint Laurent 8.3%. The LVMH group, which includes Louis Vuitton and Dior, saw its revenue decline by 4.6%, while Dolce & Gabbana saw its revenue decline by 0.2%. Experts note that the previous strategy of raising prices without adding value to the customer is no longer a universal tool for maintaining margins. Customers have become more demanding of quality, uniqueness, and service commensurate with the premium price tag.

Hermès managed to increase revenue by 5.5% despite a doubling of prices over the course of the year, confirming the robust demand for brands with a strong reputation and limited supply. Prada grew by 6.3%, thanks in part to sustainable development projects and accessories made from recycled materials. Jimmy Choo increased revenue by 5% thanks to collaborations, and Ralph Lauren grew by 12.2% thanks to joint collections targeting new audiences.

Meanwhile, the impact of sanctions and the exit from the Russian market continues. Increased supply chain controls and legal risks increase operating costs, while parallel imports reduce the manageability of distribution. Meanwhile, trademark registrations in Russia by several European fashion houses indicate continued interest in brand protection and the possibility of a full-fledged presence in the future.