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Posted by Margaret on November 15, 2024 at 9:01am 0 Comments 0 Likes
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Unexpected Sales Drop For LVMH Underscores The Luxury Sector’s Challenges In 2024 - Skywire
Posted by Liz Seyi on November 15, 2024 at 9:00am 0 Comments 0 Likes
LVMH’s reputation has long been one of a luxury giant that somehow weathers economic storms better than its competitors. This makes it all the more startling a story that for the three months to the end of September, group revenues fell to €19.1 billion (£16 billion) – a 3% decline compared to a year earlier.
Furthermore, the French conglomerate’s fashion and leather goods division – widely seen as a bellwether for the luxury goods industry – saw its sales decline by 5%.
Those…
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