Louis Vuitton UK sales fall by £90m after luxury spending dip

THE UK division of luxury brand Louis Vuitton has experienced a significant downturn in sales and profits during 2024, with nearly £90m slashed from its sales figures.

- JON ROBINSON

In the latest financial year, the fashion label recorded sales of £488.2m, a notable decrease from the £575.2m reported in 2023.

According to accounts submitted at Companies House, the company’s pre-tax profit also fell sharply from £132.1m to £84.3m within the same timeframe.

This marks the first revenue decline for the UK branch of Louis Vuitton since 2020 when sales dropped from £483.3m to £371.7m.

A board-approved statement read: "The turnover decreased by 15%which is explained by a slowdown trend in consumer spending after years of high growth following the global pandemic.