Las ventas de moda y artículos de cuero de LVMH caen en un entorno de retroceso del sector del lujo

The luxury fashion and leather goods division of LVMH reported a 5% decline in sales during the third quarter of the year, as demand slowed in China. This marks a setback from the previous quarter, when LVMH recorded its first growth in two years in this key division. The organic revenue of the unit fell more than 1.8% than expected by analysts for the September quarter, compared to the same period last year.

Despite the slowdown, LVMH's fashion and accessories business benefited from the buoyant U.S. market, but was hit by the deceleration in demand in China. The company blamed this on geopolitical tensions, inflationary pressures, and consumer confidence affecting luxury aspirational consumers. LVMH reported that its fashion and accessories business continued to benefit from the strong U.S. market, but was adversely impacted by the deceleration in Chinese demand in the third quarter.

The company's total sales grew by 1% in organic terms during the quarter to 18.5 billion euros, driven by strong demand for jewelry and its selective distribution division, particularly the Sephora beauty products chain. Analysts had expected 1.3% growth for the group in that quarter.