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This week, the fashion industry took a sharp intake of breath as LVMH reported a 5 percent decline in third-quarter sales in its core fashion and leather goods division, which includes megabrands like Louis Vuitton and Dior as well as a next tier of fast-rising billion-dollar brands like Loewe and Celine.
A sharp slowdown in luxury demand has resulted in unfamiliar operational consequences after a long growth streak. Brands throughout the industry are now in cost cutting mode, reducing staff,…
