Luxury and Fast Fashions Are Creating Billionaires Galore [Yahoo! Finance]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: Yahoo! Finance
“The dynamics among the richest are an impressively precise allegory for the polarization the fashion industry has been going through for years,” management consultant Achim Berg writes in a new report analyzing Forbes' rich lists between 2000 and 2024. “Luxury and value players are dominating in terms of numbers of billionaires and the net worth they are generating, while the premium and midmarket segment is squeezed.” More from WWD Data Intelligence Firm Luxurynsight Acquires AI Trend Forecaster Heuritech Dior Creates New Industrial Department, Taps EssilorLuxottica Veteran as Chief Production Officer EXCLUSIVE: Joseph Names Mario Arena, Formerly of JW Anderson, Creative Director Indeed, as shares of LVMH falter amid a global slump in the luxury sector, Ortega has gained $20 billion in wealth over the past six months as Inditex and its flagship Zara brand go from strength to strength. Berg, who recently wound up a 24-year career at McKinsey & Company to become an indepe
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