Trading was limited today, with hide pricing remaining unchanged from yesterday’s levels. Buyer bids are around $1 less than last traded prices, but sellers remain firm with their asking prices due to the consistent demand. Wet blue business continues firm. 

In-Person Shopping Drives Luxury Handbag Sales Above Pre-Pandemic Levels

Brick and mortar shopping drove Quarter 2 (Q2) luxury handbag sales to surpass pre-pandemic levels, contributing to the firm hide demand for these products. Q2 like-for-like sales at Louis Vuitton grew 84 percent from the previous quarter, finishing the first half of the year as the strongest in LVMH history. The bullish sales affirm the consumer’s eagerness to buy post-lockdowns. The Conference Board’s consumer confidence index was reported at 129.1 in July, which was the highest since February 2020. Despite the active demand, the increasing cost of cattle hides create risk for suppliers. A hide tanner suppling the handbag industry…