European luxury fashion holds steady amid trade tensions and online attacks
Despite trade tensions, social media smear campaigns, and earlier slowdowns, eight major European luxury brands reported Q3 2025 results slightly above conservative expectations. The brands—Brunello Cucinelli, LVMH, Kering, Hermès, Prada, Salvatore Ferragamo, Ermenegildo Zegna, and Moncler—all beat forecasts, with some improving over Q2. Prada posted 8% growth in Q3, Hermès over 9%. Prada's regional breakdown shows Middle East sales up 21% in the first nine months, Americas +15%, Asia-Pacific +10% (with slight improvement in mainland China), Europe +6%, Japan +3%. Overall Q3 sector growth is estimated at +3% (vs -2% in Q2), with Q4 forecast at +2%. The article notes a coordinated online disinformation campaign targeting Western fashion, exemplified by TikToker Sen Bag, who criticizes luxury brands while ignoring China's ultra-fast fashion exports. The author warns that behind the glamour lie thousands of jobs in a fragile supply chain.
Key facts
- Eight luxury brands reported Q3 2025 results in October: Brunello Cucinelli, LVMH, Kering, Hermès, Prada, Salvatore Ferragamo, Ermenegildo Zegna, Moncler.
- All eight brands reported results slightly above conservative expectations.
- Prada's Q3 2025 sales grew 8% year-on-year.
- Hermès Q3 2025 sales grew over 9%.
- Prada's Middle East sales rose 21% in the first nine months of 2025.
- Prada's Americas sales grew 15% in the first nine months of 2025.
- Prada's Asia-Pacific sales grew 10% in the first nine months of 2025, with slight improvement in mainland China in Q3.
- Prada's Europe sales grew 6% in the first nine months of 2025.
- Prada's Japan sales grew 3% in the first nine months of 2025.
- Overall Q3 2025 luxury sector growth estimated at +3%, after -2% in Q2.
- Q4 2025 luxury sector growth forecast at +2%.
- Online sales in the US account for about 20% of luxury spending.
- Chinese consumer cluster remains the weakest, accounting for about 30% of luxury spending.
- TikToker Sen Bag (also active on X) leads a disinformation campaign against Western fashion, ignoring Chinese ultra-fast fashion exports.
- The article was published on Artribune in November 2025.
Entities
Institutions
- Brunello Cucinelli
- LVMH
- Kering
- Hermès
- Prada
- Salvatore Ferragamo
- Ermenegildo Zegna
- Moncler
- Artribune
- Amazon
Locations
- France
- Italy
- Europe
- United States
- Middle East
- Americas
- Asia-Pacific
- China
- Japan
- Cernobbio
- New York
- Sicily