Luxury giant LVMH reported a steep decline in fashion and leather goods sales, with Q2 revenue falling 9% to €9 billion due to weaker demand in the US and China. The company’s total revenue dropped 4% organically, and operating profit in the key segment plunged 18%.
LVMH Hit by Sharp Drop in Luxury Sales as Global Demand Slows
Wines and spirits also underperformed, though champagne sales rose slightly. Jewellery sales remained flat despite brands like Bulgari and Tiffany. CFO Cécile Cabanis cited economic uncertainty but expressed cautious optimism, highlighting LVMH’s pricing power and plans for a US factory.
Recent divestments reflect a portfolio shake-up, as the group adapts to shifting global demand.
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