Morgan Stanley lowered the target prices and revenue expectations of the four major European luxury goods giants, and the European luxury sector's performance was weaker than the general market on Monday. Analyst Edward Aubin said that Gucci's parent companies Kering, LVMH, Hermès, and Lifeng Group will face a severe environment at the end of the year: demand is still sluggish, and the market situation in South Korea and France weakens. A basket of European luxury goods stocks fell 0.6%. The general market rose on the same day, the Stoxx 600 index rose 0.9%, and the luxury sector lost.

Morgan Stanley lowered the target prices and revenue expectations of the four major European luxury goods giants, and the European luxury sector's performance was weaker than the general market on Monday. Analyst Edward Aubin said that Gucci's parent companies Kering, LVMH, Hermès, and Lifeng Group will face a severe environment at the end of the year: demand is still sluggish, and the market situation in South Korea and France weakens. A basket of European luxury goods stocks fell 0.6%. The general market rose on the same day, the Stoxx 600 index rose 0.9%, and the luxury sector lost.