Luxury Groups Face Significant Valuation Drop Amid Global Market Slowdown

• Luxury groups' value in Europe has dropped by €250bn.
• Shares in Europe's largest luxury firms are trading at their lowest levels in over a decade.
• Hermès International SCA and LVMH Moët Hennessy Louis Vuitton SE reported results that did not meet expectations.
• The slowdown in China and cooling global stock markets are contributing to the downturn.
• The industry slump is expected to continue, with no immediate signs of recovery.