LVMH sales fall 3% as China demand for luxury goods worsens
Wednesday, 16 October 2024
LVMH, the world's largest luxury conglomerate, reported a 3% decline in third-quarter sales, falling short of estimates due to weakened demand in China and Japan. The fashion and leather goods division, including Louis Vuitton and Dior, saw a 5% sales drop. This outcome exacerbates existing market volatility and investor concerns, highlighting a broader slowdown in the luxury sector.
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