LVMH.
French multinational luxury goods conglomerate
LVMH Fashion Sales Fall 5% Amid China Slump
LVMH’s third-quarter fashion and leather goods sales fell 5%, worse than analysts expected, as weaker Chinese demand weighed on Louis Vuitton, Dior and other brands. Overall organic sales rose 1%, supported by growth in the U.S., Europe and Japan and stronger jewelry and retail results, but the figures underscored continued strain on the luxury sector.
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About LVMH
LVMH Moet Hennessy Louis Vuitton SE is a French multinational holding company and conglomerate that specializes in luxury goods and has its headquarters in Paris. The company was formed in 1987 through the merger of fashion house Louis Vuitton with Moët Hennessy, which had been established by the 1971 merger between the champagne producer Moët & Chandon and the cognac producer Hennessy. In April 2023, LVMH became the first European company to surpass a valuation of $500 billion. In 2023, the company was ranked 47th in the Forbes Global 2000.
Everything about LVMH →- Country
- France
- Headquarters
- Paris, Headquarters of LVMH
- Inception
- 1987, June 3, 1987
- Website
- https://www.lvmh.com/