LVMH's fashion and leather sales fall amid China slowdown
Summarised from 2 outlets · Updated 12 Oct, 18:44 · Archive
LVMH's fashion and leather sales have declined as demand slowed in China, though the US market remained strong.
LVMH reported a decline in fashion and leather goods sales, attributing the drop to a less buoyant environment in China. The Paris-listed luxury giant noted that its US market performed well despite the overall slowdown.
The disappointing update may undermine investor hopes for a wider turnaround across the luxury sector, which has faced headwinds from softer demand in key markets.
How it is being reported
- LVMH disappoints investors hoping for signs of turnaroundThe gloomy update may dash hopes of a wider revival across the industry. The luxury giant said sales 'reflected the impact on business activity of a less buoyant environment in China.'This is Money · 12 Oct, 18:23
- LVMH’s fashion and leather sales fall in luxury setbackParis-listed group hails ‘buoyant’ US market but says sales were hit by slowdown in demand in ChinaFinancial Times · 12 Oct, 17:08
In this story: LVMH · China · United States · Paris
This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem
Comments (0)