Overview

• LVMH's first quarter sales in 2024 show a 2% drop in revenue, confirming a slowdown in the luxury market.
• Champagne sales plummet as post-pandemic demand normalizes, with a significant 16% decline in the wines and spirits segment.
• Luxury handbag demand weakens, particularly impacting brands like Louis Vuitton and Dior, with growth slowing to 2% in the fashion and leather goods division.
• Despite challenges, LVMH shares rise slightly due to modest reassurance provided to investors regarding the company's resilience.
• Market analysts remain cautious, citing tough comparisons from previous high-growth periods and ongoing economic challenges in key markets like China and the US.