This Chart Shows What a Bad Year It’s Been for Luxury [Video]

2024 was a bad year for luxury.

Many of the world’s largest luxury companies saw their share prices decline this year as the market for high-end goods experienced a brutal slowdown.

“50 million luxury consumers have either opted out of the luxury goods market or been forced out of it in the last two years,” Claudia D’Arpizio, who leads Bain’s global luxury goods and fashion practice, wrote in a report last month.

“The negative environment predicted by many in the fashion industry this time a year ago has now materialized,” a McKinsey report said earlier this year.

One chart — featuring some of the luxury’s most notable companies — shows just how rough 2024 was through mid-December.

Only two companies — Hermès and Richemont, the parent company of Cartier and Van Cleef — managed to beat the STOXX Europe 600, an index that represents a mix of European stocks, this year.

Meanwhile, share prices for LVMH — the largest of the luxury conglomerates …