Published by Global Banking & Finance Review®
Posted on January 16, 2025
1 min readLast updated: January 27, 2026
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European luxury stocks surged as Richemont's sales beat expectations, with major brands like LVMH and Kering seeing significant stock increases.
(Reuters) - European luxury shares soared on Thursday as Cartier owner Richemont's third-quarter sales beat revived optimism for the battered sector.
Richemont shares jumped around 15% to their highest since May 2023 and were set for their biggest intraday rise since October 2008.
At 0831 GMT shares in French luxury companies LVMH and Gucci owner Kering were both up around 7%. Italy's Moncler was up around 7.7% and Burberry rose some 6%.
A broader index of European luxury stocks soared over 7%, set for its largest one-day rally since its inception in May 2022.
(Reporting by Linda Pasquini and Samuel Indyk; Editing by Amanda Cooper)
The article discusses the rise in European luxury stocks following Richemont's strong sales performance, impacting major brands like LVMH and Kering.
Richemont shares rose due to their third-quarter sales exceeding expectations, boosting investor confidence in the luxury sector.
Other luxury brands like LVMH, Kering, Moncler, and Burberry also saw significant stock increases, reflecting positive market sentiment.
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