LVMH says Q3 sales fell 4.4 percent to 19 billion euros

The French luxury goods group Moët Hennessy Louis Vuitton (LVMH) also suffered a decline in sales in the third quarter of the 2024 financial year. With its results published on Tuesday evening, the group fell short of market expectations.

In the period from July to September, group sales amounted to just under 19.1 billion euros. This represented a decline of four percent compared to the same quarter last year. On an organic basis – i.e. adjusted for currency effects and changes in the group portfolio – revenues fell by three percent.

In the fashion and leather goods division, which is by far the most important, and which includes the brands Louis Vuitton, Christian Dior, Loewe, Givenchy and Celine, quarterly sales amounted to 9.2 billion euros, six percent (organically -5 percent) below the corresponding level of the previous year.

Weak demand in China

In the first nine months of the current year, LVMH generated sales of 60.8 billion euros. This represents a decrease of two percent compared to the same period last year. On an organic basis, revenues remained practically constant. Growth in Europe, the USA and Japan was offset not least by the current weak demand in China .

In the fashion and leather goods segment, sales in the first three quarters amounted to 29.9 million euros, which corresponded to a decline of three percent (organic -1 percent) compared to the previous year. In the wine and spirits segment, revenues shrank by eleven percent (currency-adjusted -8 percent) to 4.2 billion euros, while in the watches and jewelry segment they fell by five percent (currency-adjusted -3 percent) to 7.5 billion euros.

Sales of perfumes and cosmetics, on the other hand, developed positively, increasing by two percent (+5 percent adjusted for currency effects) to 6.1 billion euros. The retail sector with the DFS, Sephora and Le Bon Marché chains also saw an upturn: their revenues rose by one percent (+6 percent adjusted for currency effects) to 12.6 billion euros.

This article originally appeared on FashionUnited.DE, translated and edited to English.

It was translated using an AI tool called Gemini 1.5. .

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