LVMH Sales Hit by Weak Chinese Demand

LVMH, the world's largest luxury goods company, is facing a 1% decline in sales during the third quarter compared to the same period last year, with a noticeable 5% drop in the fashion and leather goods segment. This decline is mainly due to weak demand in the Chinese market, which negatively impacted major brands like Louis Vuitton and Dior, as China experienced less vibrancy compared to the United States, Europe, and Japan, where growth was strong. Additionally, geopolitical challenges, tax tightening campaigns, and intellectual property rights criticisms in China have increased pressures on the sector, which is valued at around $350 billion, with its market capitalization having fallen by approximately €330 billion since the beginning of the year.

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