LVMH Q3 sales growth slows to 1%, fashion unit falls 5%
AI-generated briefing · First published
LVMH reported third-quarter sales of 18.5 billion euros, with organic growth of 1%. The fashion and leather goods division fell 5%, hit by weaker Chinese demand.
LVMH posted third-quarter sales of 18.5 billion euros, up 1% organically, below the 3% growth recorded in the second quarter. The fashion and leather goods unit, which includes Louis Vuitton and Dior, saw revenue drop 5% to 8.245 billion euros. [1] [2] [3]
Chief financial officer Cécile Cabanis cited a sharp deterioration in Chinese consumer confidence, driven by macroeconomic factors and recent negative news. Asian sales fell 5%, while U.S. sales rose 5%. [2] [3]
Analysts from Bank of America warned that luxury demand deteriorated in the third quarter, and Berenberg said the era of super-growth for the sector has ended. [2] [3]
Sources
- LVMH’s Creaking Sales Cast Pall Over Luxury’s Fragile Recovery
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