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.
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 ...
Waning confidence among China’s middle class consumers could further undermine sales of global luxury brands, analysts say.
Bellwether LVMH reports third-quarter revenue on Tuesday, which could indicate how the rest of the industry fared in a ...
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