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Diverging fortunes in luxury, as Kering reports declining revenues while Hermès continues to deliver strong growth driven by leather goods
Persistent weakness in global hide prices, with Brazil’s index continuing its year-on-year decline despite stable week-on-week movement
Ongoing imbalance in the splits market
Continued softness in automotive leather demand
Heightened geopolitical risk, including Middle East tensions and energy price volatility
Market attention turning to APLF in Hong Kong.
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