LVMH opened the third-quarter season with organic growth of 1 percent, down from 3 percent three months earlier, and fashion and leather goods fell 5 percent.
Kering is still inside a creative reset, with Saint Laurent, Alexander McQueen and Brioni all changing designers within weeks.
The week will not deliver a verdict on luxury so much as a map of where the cracks are widest.
The results will be read as a referendum on America, when the real question is whether luxury still has a market that behaves the way all of them once did.
