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LVMH struggles to escape from the shadow of China’s economic downturn

Article by Rachel Wolff  |  Oct 15, 2024
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LVMH struggles to escape from the shadow of China’s economic downturn
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Topics
Luxury Goods
Retail Sales
Worldwide
China

The news: LVMH had a challenging Q3 amid softening global demand for luxury.

  • Organic revenues fell 3% year over year (YoY) to €19.08 billion ($20.65 billion), falling short of Visible Alpha’s consensus estimate for 0.9% YoY organic growth and €19.94 billion ($21.58 billion) in revenues.
  • US sales were flat YoY during the quarter, while Europe sales rose 2% YoY and Asia sales (excluding Japan) fell 16% YoY.

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