<div id="readability-page-1"><div>** Deutsche Bank says 2026 will be a &#34;make or break&#34; year for European luxury, seeing the sector well positioned for accelerating growth throughout the year** The analysts forecast sector growth of 6% in 2026, vs 2% in 2025, with a small acceleration in H1 to H2** &#34;We see tailwinds from new creative designers, new store formats and marketing campaigns to help reignite growth,&#34; they write in a note, naming Gucci and Burberry as &#34;recovery stories&#34; that should be boosted by this** LVMH and Burberry remain DB's most preferred sector names, joined by Swiss watchmaker Richemont on stronger-than-expected sales growth** Least preferred stocks are Kering and Moncler due to high growth expectations and earnings expectations risks, the brokerage says** Hard versus soft luxury debate is expected to continue but with less of a sales performance differential, it adds</div></div>

LVMUY

Deutsche Bank predicts 2026 as a pivotal year for European luxury, forecasting 6% sector growth. Tailwinds from new designers, store formats, and marketing campaigns are expected to boost brands like Gucci and Burberry. LVMH, Burberry, and Richemont are DB's top picks, while Kering and Moncler are least preferred due to high growth and earnings risks.

2026 a 'make or break' year for luxury, DB says