Louis Vuitton Owner LVMH Sees Stock Drop on Weak China Sales

Published On Oct 16, 2024, 9:50 AM

Shares of LVMH, the luxury goods conglomerate, have dropped significantly due to disappointing sales figures from China, where the company reported a 3% decline in sales for the last quarter, marking the first decrease in its fashion and leather goods division since the pandemic began. The economic situation in China remains uncertain, leading to investor anxiety about weak consumer spending, despite some analysts believing that the luxury market will eventually recover as stimulus measures are anticipated.