Published on June 26, 2024 at 9:00 p.m. / Modified on June 27, 2024 at 09:21.
Certain epiphenomena say a lot about the state of a sector. It only took a few words taken from an anonymous source “close to Arnault” by the Bloomberg agency to cause Richemont shares to rise. The announcement in question is a “small” participation of Bernard Arnault in Richemont. The article is published on Tuesday, the title gains 2.74% the same day. However, the outbreak did not cause a fire. On Wednesday, the stock ended down 1.25%.
Nevertheless, the sting thrown by Bloomberg hit the nail on the head. Because, at the moment, the luxury market is even more sensitive than usual. The sector is on a plateau, after several years of strong growth. Enough to weigh on valuations and revive speculation in terms of acquisition, merger, or even mega-merger.
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