LVMH Reports Slower Sales Growth and Decreased Demand for Handbags in First Quarter
Wednesday, 17 April 2024, 03:32
LVMH Reports Slower Sales Growth
The French luxury brand LVMH experienced a significant slowdown in sales growth during the first quarter, particularly in its fashion and leather goods unit.
Decline in Demand for Handbags
Organic revenue in the fashion and leather goods unit only increased by 2%, falling short of analysts' estimates and the growth rate from the previous year.
This decline highlights challenges in meeting consumer demand for high-end handbags, which has impacted the brand's performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.