LVMH Struggles as Sales Drop Amidst China Slowdown

The luxury giant reports a 3% sales decline in Q3, highlighting weakened demand from Chinese consumers and an uncertain global outlook.

LVMH's third-quarter revenue fell 3% to €19.1 billion, missing analyst expectations of growth.
Sales in the Fashion & Leather Goods division, which includes Louis Vuitton and Dior, dropped by 5%, marking the first decline since 2020.
The Asia Pacific market, excluding Japan, saw a 16% decrease in sales, largely due to reduced Chinese consumer spending.
Weaker sales in Japan were attributed to a stronger yen, impacting purchases by Chinese tourists seeking lower prices.
LVMH's stock fell nearly 7% in early trading, impacting other luxury brands like Kering and Burberry as concerns over the luxury market's health persist.