After the introduction of President Donald Trump, the luxury goods industry is preparing for what could possibly be the longest decline in many years. European producers of luxury goods currently depend on wealthy Americans for stimulating growth under the conditions of persistent pessimistic forecasts relative to China's economy. "Repeated costs led to a decrease in operational profit to 246 million euros (280 million dollars) in 2024," Valentino reported, continuing to invest in direct retail stores. The Italian luxury brand Valentino stated on Friday: "Operational profit decreased by 22% last year amid a slowdown in global demand for luxury goods, especially in Asia."
