Luxury brands are bracing for tariff impacts. Luxury stocks have taken a hit recently, dropping 15% over the past month alone due to Trump’s tariffs on European goods and signs of slowing global demand. Brands like Birkenstock and LVMH are feeling the pressure, especially since they have heavy exposure in the U.S. market. However, pricier luxury giants like Hermès and Richemont might actually be better equipped to handle the costs. European fashion leaders are pushing back though, warning that higher prices and supply chain issues are on the way. For Gen Z and Millennials, these changes could make fashion dupes even more tempting, especially since clothing and jewelry are their top luxury purchases for those who are shelling out on any now. (WWD)
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