LVMH Warns That Dipping Demand in China Could Hurt the Luxury Sector
A large part of the overall decline is thanks to people pulling back in China, a huge market for the luxury sector. “Consumer confidence in mainland China today is back in line with the all-time low reached during Covid,” Jean-Jacques Guiony, the chief financial officer at LVMH, told analysts on Tuesday, according to the Times.
China’s consumer slowdown hits high-end conglomerate LVMH; its rivals Brunello, Hermes, Kering have yet to report sales.
French luxury conglomerate LVMH, the world's largest luxury company, reported a 3% year-on-year decline in sales in its most ...
LVMH posted a year-over-year sales decline in the third quarter, showing the continuing pressure on the luxury sector from ...
EIGHTEEN months ago, LVMH shares were trading at a record high and the group’s controlling shareholder, Bernard Arnault, was ...
Bellwether LVMH reports third-quarter revenue on Tuesday, which could indicate how the rest of the industry fared in a ...
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