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LVMH shares fall as shoppers spend less on luxury goods
The Guardian
|July 25, 2024
Disappointing figures from LVMH as shoppers reined in spending on handbags and champagne have hit the value of luxury goods firms amid fears of weak demand.
Shares in the French company, which owns Louis Vuitton, Dior and Tiffany, slid 4.4% yesterday morning asit revealed that sales in the key Asian markets, excluding Japan, were down 14% in the three months to June amid weak demand for Cognac in China and slowdowns in demand for fashion, watches, leather goods, perfumes and cosmetics.
Analysts said lower-priced goods, including some handbags, were performing worse than higher-priced items such as garments.
Cette histoire est tirée de l'édition July 25, 2024 de The Guardian.
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