lvmh sales

Global luxury sales faced a stark reality check as LVMH reported a mere 1% growth, significantly impacted by Middle East conflicts. Dubai's luxury malls saw sales plummet 50%. Europe's sales contracted 3% due to fewer Gulf tourists, while the US remained a bright spot. Fashion sales declined, but watches and jewelry showed resilience.

Luxury labels are navigating uncharted waters in the Middle East, as recent regional conflicts have drastically shaken up sales and tourism trends. The bustling malls and airports of Dubai, once thriving hubs of luxury shopping, are now seeing a notable downturn in visitors and revenue.

LVMH, the world's largest luxury conglomerate, reported a 3% decline in third-quarter sales, falling short of estimates due to weakened demand in China and Japan. The fashion and leather goods division, including Louis Vuitton and Dior, saw a 5% sales drop. This outcome exacerbates existing market volatility and investor concerns, highlighting a broader slowdown in the luxury sector.

LVMH's growth has gone slow. The shares of the company slumped earlier last week to the lowest level since December 2022.

LVMH installed the son of company founder Bernard Arnault in a new leadership team at Tiffany on Thursday after the French luxury goods group concluded its $15.8 billion acquisition of the U.S. jeweller.

The luxury market is experiencing a significant decline, highlighted by LVMH's slowing sales growth. Contributing factors include economic uncertainty, China's slowdown, and post-pandemic spending changes. This has impacted stock values, consumer behavior, and operational strategies.

Luxury titan LVMH witnessed its best trading day in two decades, surging 14% on robust quarterly sales, hinting at a Chinese demand resurgence. This boosted European luxury stocks by nearly $80 billion, with rivals also seeing significant gains. While optimism is returning, some analysts urge caution, deeming it too early for a full industry recovery.

Bernard Arnault surpasses Elon Musk as the world's wealthiest individual with a net worth of $207.8 billion, as reported by Forbes. LVMH's market capitalization reaches $388.8 billion, while Tesla's market cap stands at $586.14 billion. Mukesh Ambani holds the 11th position on the World's Richest Persons list with a net worth of $104.4 billion.

U.S. luxury jeweler Tiffany & Co (TIF.N), which is being bought by France’s LVMH for $16 billion, said on Tuesday it had amended some of its debt agreements to gain more financial leeway amid the coronavirus pandemic after its quarterly sales sank 44%.

Luxury conglomerate LVMH is reportedly considering selling a popular fashion label they hold amid a portfolio reshuffling. Facing a recent profit dip of 22% and a 4% sales decline, LVMH is exploring options for the brand, potentially valued at $1 billion. Authentic Brands Group, WHP Global, and Bluestar Alliance are among interested buyers.

A popular luxury brand has surpassed LVMH as Europe's most valuable luxury house due to LVMH's disappointing Q1 performance, which saw shares plunge and market capitalization fall. Investors are re-evaluating their positions as the top brand's focus on ultra-high-end clientele provides resilience against economic downturns. LVMH's broader portfolio exposes it to vulnerabilities in the mid-range luxury market, impacting the entire sector. Click to know which brand it is

Gucci’s new creative head Sabato De Sarno is stepping onto a wobbly catwalk.

LVMH, grappling with declining sales and consumer fatigue, plans a second Texas factory amid US-Europe trade tensions. CEO Bernard Arnault advocates for trade agreements while the company navigates challenges in its fashion and leather goods division. Despite a sales drop, LVMH sees potential in its brands and a revival in China, facing competition from mass-market players.

LVMH has stepped into a new role as a major sponsor of the Paris Olympics, showcasing brands like Louis Vuitton and Dior under CEO Bernard Arnault. Their sponsorship includes designing uniforms and crafting medals, emphasizing luxury. The move marks a strategic shift for luxury brands, aiming to broaden their appeal and solidify LVMH’s global influence.

The luxury group is expanding.

Bernard Arnault surpasses Elon Musk as the world's wealthiest person with a fortune of $207.8 billion, as LVMH's stock rises by 13%. Musk's fortune dipped by $18 billion due to Tesla's declining stock value. Arnault initially outpaced Musk in December 2022 but lost the title briefly.

LVMH Moët Hennessy Louis Vuitton SE is selling its stake in Stella McCartney’s brand back to the founder after a five-year partnership. Stella McCartney, renowned for her sustainable and animal-free fashion, will continue to advise LVMH on sustainability. This move reflects LVMH's strategy amid a global luxury market slowdown, particularly in China.

French luxury house, Louis Vuitton Malletier, also known as Louis Vuitton is witnessing a management change. The chairman of the company, Bernard Arnault has reshuffled top management. Now, Pietro Beccari, who has been the head of Dior since 2018, will replace long-time Louis Vuitton CEO Michael Burke and Bernard has given the job of leading Dior to his loving daughter Delphine Arnault.

Tag Heuer which is amongst the top three luxury watch brands globally, has 92 retail points in the country, with seven exclusive boutiques, while Dior has 16 points of sale, and two boutiques.

Shares in global luxury goods groups, which rely heavily on Chinese shoppers, rose on Tuesday after Beijing further relaxed some COVID restrictions that had been in place for the past three years, fuelling hopes of a full-blown reopening soon.

Whyte & Mackay, is understood to be interested in second-tier malts and in consolidating the supply of spirit for Scotch whiskies as it seeks to tighten its grip on the fast-growing Indian market.

Bids for 200 pairs of Nike/Louis Vuitton "Air Force 1" sneakers designed by Virgil Abloh are running well beyond Sotheby's initial estimates in an auction with a week to go.

Shares in Kering rose by 4.3% in mid-morning trading in Paris, outperforming peers like Hermes and LVMH. Kering's forward price-to-earnings ratio suggests cautious optimism among investors. Gucci's recurring operating margin for the full year was 33.1%, indicating ongoing efforts to stabilize and revitalize the brand.

Designers at Nona Source showroom breathe new life into 'deadstock' textiles, sourced from remnants of fabric rolls. Initiatives like Nona Source, supported by luxury giant LVMH, drive eco-conscious design and reshape industry perceptions of beauty.

Louis Vuitton chairman Bernard Arnault has surpassed Amazon founder Jeff Bezos to become the world's richest person, according to Forbes real-time billionaires list. With a total net worth of $199.9 billion, Arnault now tops the billionaires list ahead of Bezos whose net worth stood at $194.9 billion. While Tesla and SpaceX chief Elon Musk is placed third with a net worth of $185.5 billion.

Mixing high- and low-cost styles is a well-worn fashion trick, and Korean pop sensations BTS are taking the approach to a whole new level in marketing deals announced this week.

Jeff Bezos sold $2 billion worth of Amazon shares. His estimated fortune is $195.5 billion. Bezos plans to sell 50 million shares by next July. Amazon reported $170 billion in sales and a $10.6 billion net profit. This led to a 13% jump in the stock price.

Birkenstock Holding Plc has priced its New York initial public offering (IPO) at $46 per share, falling short of expectations. The IPO values the company at about $8.6 billion. Despite this, Birkenstock's sales have been increasing, with revenue up 21% in the first nine months of this year. The company plans to expand its sales in Asia and invest in production capabilities. However, there are concerns about the company's high valuation.

Post Xi’s economic stimulus package, stocks of top luxury companies, most of which are European, are on the upswing. Because China accounts for a quarter of global luxury sales. But the question is whether what Xi has done is enough.