Table of Contents
LVMH is the latest luxury goods giant to be hit by a slowdown in demand for high-end fashion.
Sales in the fashion and leather goods division in the three months to the end of June were just 1% higher than a year earlier.
The French group, whose brands include Givenchy, Celine, Stella McCartney and Louis Vuitton, recorded much slower growth in its fashion and leather goods division compared with last year.
Sales of this unit in the three months to the end of June were just 1% higher than a year earlier.
That was down from a 23% increase in the same period in 2023. After a post-Covid spending boom, the luxury industry has struggled with waning demand ever since.
LVMH chief executive Bernard Arnault praised the company’s “remarkable resilience”, which posted impressive second-quarter sales of £17.6bn.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investment and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free investment ideas and fund trading
interactive investor
interactive investor
Flat rate investing from £4.99 per month
eToro
eToro
Stock Investing: Community of Over 30 Million
Trade 212
Trade 212
Free and commission-free stock trading per account
Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.
