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Why Louis Vuitton, Gucci and Prada Are in Trouble

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A new report by The Washington Post has provided an explanation for why the high-fashion bigwigs are in financial trouble. Gucci’s sales slumped 1.1% in 2014, Prada’s sales dipped 1.5% last year and powerhouse LVMH has seen a sales growth slow for the first time in a while. The Washington Post argues that this is because of the consumer’s increasing penchant for subtlety; nobody wants a loud, logo-d handbag that shouts about its four-figure price tag in times of austerity. And it’s not just about modesty either, it’s about understated luxury as an increasingly prevalent fashion trend.

Read the article in full via The Washington Post.

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