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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mberg@businessinsider.com (Madeline Berg), Business Insider
Sat, 10/19/2024 - 9:41am
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BING NEWS:
- LVMH had a rough week. That's a bad sign for the luxury sector.
The Dior and Louis Vuitton owner reported disappointing earnings. As LVMH is a bellwether for the luxury industry, it bodes ill for other retailers.
10/19/2024 - 5:50 am | View Link - There's more to China's luxury spending slump than its struggling economy
Demand for luxury goods is slowing in China, and tough economic conditions aren't only to blame for this.
10/19/2024 - 1:57 am | View Link - Luxury stocks slide as LVMH disappoints and Wall Street eyes few signs of stronger China demand despite stimulus
LVMH's commentary on demand in China was a warning for luxury brands, which have relied on Chinese consumers to drive growth in recent years.
10/16/2024 - 7:47 am | View Link - LVMH sales fall 3% as Chinese demand for luxury goods worsens
PARIS - French luxury giant LVMH reported a 3 per cent fall in third-quarter sales on Oct 15, undershooting estimates in its first decline in quarterly sales since the Covid-19 pandemic as demand ...
10/16/2024 - 5:43 am | View Link - Heard on the Street: LVMH Slowdown Is Bad Omen for Luxury Industry
The sudden slowdown in Chinese demand reported by Louis Vuitton’s owner is a bad sign for weaker rivals like Kering-owned Gucci. Dig deeper: ...
10/16/2024 - 3:21 am | View Link - More
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