This could be the third in a row since 2024.
Loro Piana, a name known for soft cashmere and ultra-high prices, has just been placed under court monitoring in Italy. Authorities uncovered disturbing conditions in one of the workshops linked to its supply chain.
Revenues have been falling since 2024—and it looks like the trend will continue for the remainder of the year.
The iconic British label joins the likes of Kering and LVMH which have also reported decreased revenues.
Hermès' market capitalization soared to $276.3 billion USD, surpassing LVMH's $274.5 billion USD.
