Comment on LVMH had a rough week. That's a bad sign for the luxury sector.

mberg@businessinsider.com (Madeline Berg), Business Insider
Sat, 10/19/2024 - 9:41am

LVMH had a rough week. That's a bad sign for the luxury sector.

Louis Vuitton owner LVMH reported poor third-quarter earnings this week, with China revenue falling more than expected.Cheng Xin/Getty ImagesLVMH said sales dropped during the third quarter, with revenue down double digits in China.The company acts as a bellwether for the luxury industry, which is expected to continue to struggle.Despite the tough macroeconomic environment, there are bright spots in the market.The luxury slump isn't going anywhere — and the fashion and leather goods houses of the world should beware.LVMH, the largest of the luxury conglomerates, announced its third-quarter earnings this week, and the results were grim.

 

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