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The truth about salaries in the luxury industry

By Astrid Wendlandt
The truth about salaries in the luxury industry
Luxury giants including LVMH and Richemont last month published spectacular results for 2021, showing a strong rebound after the pandemic bruised the industry in 2020. For the sector’s hundreds of thousands of employees, it means job security for the foreseeable future but it doesn’t mean they will get pay rise. Since Miss Tweed published a story last week about the industry’s manpower problem, the Paris-based media has been inundated with messages, all saying the same thing: France and Italy’s initiatives to make luxury jobs more attractive to young people are great but the main problem is low salaries. Prices for luxury goods, such as Louis Vuitton, Chanel and Dior’s best-selling handbags, have soared and brands’ margins have increased significantly but salaries remain depressingly low, workers say.

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