News about luxury: events, facts and developments on tafs uz.
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Kering's third-quarter revenue remained flat at €3.34 billion, but Gucci sales fell 4% — worse than in the second quarter. Investors saw no signs of stabilization at the flagship brand, and the group's shares plunged to their lowest level since June 2025.
Javlon TursunovChinese consumers increasingly seek value rather than display status: the personal luxury market in mainland China is shrinking while secondary luxury is growing. LVMH ties falling sales to slowing demand in China; Louis Vuitton has closed five stores, and Galeries Lafayette shut its Beijing flagship. A lawsuit by Louis Vuitton against the Molly Tea chain has added further friction.
Dilnoza RahimovaThe BBC analyzed satellite images showing four large vessels, ranging from 50 to 80 meters in length, off the coast of Wonsan near Kim Jong Un's villa between July and mid-October 2026. The largest, an 80-meter ship featuring a 50-meter pool and water slides, has been stationed near the Kalm Peninsula since early July. While North Korea has not officially disclosed ownership, former officials and defectors link such vessels to the leader's family. This display of luxury contrasts sharply with UN reports stating that approximately 40% of the population suffers from malnutrition and that the standard 14-day annual leave is rarely granted to ordinary citizens.
Otabek Yusupov
