LVMH’s reported third-quarter sales fell by 3% to €19.1 billion, marking a slowdown attributed to declining consumer spending in Asia, particularly from China.
The decline in LVMH shares, which initially dipped 7%, reflects broader market concerns about the luxury sector, severely impacted by weakened Chinese consumer confidence.
Despite growing by only 2% in Europe, LVMH had anticipated higher sales after major visibility events like the Paris Olympics, highlighting unexpected market challenges.
Lower growth in Japan due to a stronger yen and reduced expenditures from Chinese shoppers has pushed analysts to revise luxury goods sales forecasts downwards.
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