LVMH is the latest luxury goods giant to be hit by a slowdown in demand for high-end fashion.
LVMH is the latest luxury goods giant to be hit by a slowdown in demand for high-end fashion.
Sales in the fashion and leather goods division in the three months to the end June were just 1pc higher than a year earlier.
The French group,whose brands include Givenchy,Celine,Stella McCartney and Louis Vuitton,posted far slower growth for its fashion and leather goods division compared to last year.
Sales in this unit in the three months to the end June were just 1pc higher than a year earlier.
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That was down from a 23pc rise in the same period of 2023. After a post- Covid spending boom,the luxury industry has struggled with dwindling demand ever since.
LVMH chief executive Bernard Arnault hailed the firm's 'remarkable resilience' as it posted a still impressive £17.6bn sales for the second quarter.
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