Where Does Hermes (HESAY) Stand Against Other Top Luxury Clothing Stocks to Invest in Now? [Yahoo! Finance]
HERMES INTL SA UNSP/ADR (HESAY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Overall View of Trends in the Luxury Sector The luxury segment in retail has been a prominent driver of growth in the industry. It is primarily considered a status symbol, driving discretionary spending among customers with high purchasing power. According to a report by Mordor Intelligence, the luxury retail sector has a market size of $110.13 billion as of 2024, and is expected to grow to $151.32 billion by 2029, at a compound annual growth rate of 6.56%. While the Asia-Pacific region is the fastest-growing market in the luxury retail domain, the largest market remains concentrated in Europe. According to McKinsey's The State of Fashion 2024 report, the global apparel industry is expected to experience top-line growth of 2%- 4% in 2024, with variations possible in countries and regions. Quite like in previous years, the luxury segment is anticipated to generate the most significant economic profit. However, companies in the sector may experience a tough economic environment
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