Luxury fashion is facing a cash crunch despite football stars turning high-end bags into global status symbols—Hermes Birkins and Louis Vuitton totes are selling for millions, yet giants like LVMH and Hermes are seeing flat or falling profits. The boom is fueled by global stars like Haaland, Bellingham, and Mbappe, but economic headwinds in the Middle East and China are dampening sales. While U.S. buyers are stepping in, it’s not enough to save the big players—both LVMH and Hermes are seeing stock declines. Still, there’s a silver lining: British brand Mulberry’s losses are shrinking, hinting that the market might still rebound if regional demand picks up.
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