After a sluggish first half of the year, the luxury sector returned to modest growth in Q3, buoyed by the US stock market and a stabilization in China. But we’re not out of the woods yet. “It’s more a stabilization, at least in Asia, than things fundamentally getting much better,” Morgan Stanley managing director Édouard Aubin tells Vogue Business.

Still, LVMH — the bellwether for the sector — saw the biggest one-day share price move in over 30 years, after reporting better-than-expected sales (group sales were up 1% to €18.28 billion, versus consensus expectations of -0.6%). The share price was up 12% on October 15. Kering and Ferragamo , which also both beat consensus expectations, joined LVMH in a strong rally. “There has been a lot of concern and skepticism over the sector for

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