Luxury giant LVMH experiences unprecedented drop in sales
Faced with a depressed luxury goods market, the sector's global leader has published a fall in revenue for the first time since 2020. Cost-cutting measures are already underway.
LVMH sales fall 3% as China demand for luxury goods worsens
By Mimosa Spencer and Dominique Patton PARIS (Reuters) -French luxury giant LVMH reported a 3% fall in third-quarter sales on Tuesday, undershooting estimates in its first decline in quarterly sales since the pandemic as demand in China and Japan weakened,
LVMH Drags Down Luxury Stocks. It's All About China.
Shares in LVMH Moët Hennessy Louis Vuitton were sliding on Wednesday after the French luxury goods maker warned that China's faltering economy is weighing on its sales numbers. In an earnings report posted after Tuesday's closing bell,
LVMH stock falls on slumping luxury sales in China
LVMH shares, listed on the Euronext Paris stock exchange, fell 4% on Wednesday having lost 19% of their value in the year-to-date. The French conglomerate’s warning comes as an
LVMH Plunges as Chinese Luxury Spending Slowdown Worsens
LVMH shares plunged after sales of fashion and leather goods fell for the first time since the pandemic, revealing the scale of the slump in demand from once insatiable Chinese consumers.
Louis Vuitton owner LVMH sales slump on weak China demand, shaking luxury sector
Bernard Arnault’s luxury fashion group LVMH on Wednesday led its rivals’ shares downward after it reported disappointing sales on weak China demand. LVMH’s fashion and leather goods unit – including iconic brands like Louis Vuitton and Dior – posted a 5% decline in sales,
LVMH Revenue Falls, Sparking Fears Of A Luxury Market Recession
LVMH reported 3Q2024 ended down 3%, with Asia off 16% and Fashion & Leather Goods down 5%. LVMH called it a cyclical downturn ...
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What Does Luxury Mean For Gen Z? Fancy Groceries
Recent reports have revealed a remarkable shift in spending habits among Gen Z. According to a McKinsey study conducted in ...
North Korea Imports $50 Million in Luxury Goods in Kim Gift Splurge
Imports of watches from China saw a 64 percent year-on-year increase, suggesting North Korea's leader is stepping up rewards ...
Luxury goods unlikely to be next target of China's EU trade retaliation, analysts say
European luxury shares have slid on investor concerns that Hermes handbags and Dior slingbacks may be Beijing's next targets ...
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What if luxury is art sellers’ salvation, and not their sin
They have made a killing using art, but the artists have not done that well with luxury goods,” Taplin adds. Compare Louis Vuitton’s lucrative 12-years-and-counting collaboration with Yayoi ...
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Leaders auction luxury goods to raise funds for Neglected Women Diseases
A group of women leaders in the country on Friday organised an auction of luxury goods whose proceeds will go towards ...
NY investor jailed for spending clients’ millions on vacations, luxury goods
An Upstate New York man has been sentenced to 54 months in prison for investing nearly $5 million of his clients money in ...
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Belarussian Businessman Dodges Luxury Goods Embargo on Russia
Belarussian Alexander Zaitsev, nicknamed President Aleksandr Lukashenko’s “money bag,” appears to have shipped luxury goods ...
LVMH Set to Provide Clues on Luxury Industry’s China Struggles
For investors bracing for another gloomy results season from Europe’s luxury-goods industry, there’s potentially one bright ...
It looks like the glory days of luxury are over for LVMH, at least for now
LVMH reported a 3% decline in sales in its latest quarter, driven by decreased demand from Chinese consumers.