Hosted By: Francesco Tombolini (part 2) The fashion crisis lies in what the reports leave unsaid

At the end of 2017, Alphabet — in other words, Google — had a market capitalization of around $730 billion. LVMH was worth $147 billion and Kering, which at the time still included Puma through the Artemis fund, $159 billion. Combined, the two companies that sell desire were worth 28% of the company that sells the order in which search results appear. Flash forward to the end of last July: Alphabet is worth around $4.2 trillion. LVMH is worth €234 billion and Kering €35 billion, or just over $300 billion combined. 7.5%. Publicly listed French luxury has gone from being worth just over a quarter of Google to one thirteenth in nine years. So is it really luxury?