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LVMH, Kering Slide Again as Cracks Appear in Luxury’s Bull Case

Sales in LVMH's key fashion and leather goods unit rose 30 percent.
LVMH, Kering SA and Richemont have all hit record highs this year, outperforming the broader market. (Shutterstock)

European luxury goods makers came under pressure for a second day, extending a rout that’s wiped out about $60 billion in market value, in early signs of a turn in sentiment for a sector that’s been “priced for perfection.”

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