Companies To Watch: LVMH and Kering— who’s winning luxury’s reset

The world’s biggest fashion houses are learning to live with slower growth. LVMH’s Q3 rebound and Kering’s cautious recovery signal that the luxury cycle may be bottoming out, but not evenly.

Dan Koh and Audrey Siek dives into how beauty, travel, and Chinese demand are driving the comeback, and why the battle between brand power and consumer fatigue could define 2026.

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