Bifurcated Business

At LVMH, the world’s largest luxury group, whose brands include Christian Dior, Louis Vuitton, Tiffany, and others, reported a 28% Y-o-Y sales increase, and at Hermes, home of the $20,000 Birkin bag, sales are up 23% Y-o-Y. Conversely, McDonald’s is seeing lower-income customers buy more value offerings and fewer combo meals and is also gaining consumers who are shifting away from sit-down fast-food restaurants to save money on meals out.

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