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LVMH Sales DOWN, Demand for Luxury Bags DROPPING Among High End Customers

According to Fortune, LVMH, the French luxury conglomerate renowned for apparel, watches, and spirits, witnessed a slowdown in sales growth in early 2024.

LVMH Sales DOWN, Demand for Luxury Bags DROPPING Among High End Customers
Photo by cody gallo / Unsplash

The endless discussion regarding the slowed down sales of LVMH and other conglomerates are a common topic among fashion lovers. It appears that these brands are declining or having slow growth within 2023 and 2024. Just recently, Gucci has reported a massive drop in sales and brands like Versace and Jimmy Choo are apparently slowed in sales too. 

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For Malaysians, Johor Premium Outlets may be a good indicator for these brands as Versace and Jimmy Choo are often on “special prices.” Reportedly, in the United States, you’re able to get Versace shoes for as low as US$150. 

According to Fortune, LVMH, the French luxury conglomerate renowned for apparel, watches, and spirits, witnessed a slowdown in sales growth in early 2024. Despite being the world's largest luxury company led by Bernard Arnault, optimism at the year's outset waned amid industry concerns over a possible slowdown.

Are sales for LVMH down or up? 

However, Reuters had a contrary report as they stated that LVMH surpassed market expectations in Q3, reporting robust sales growth driven by affluent shoppers indulging in fashion and favorable exchange rates benefiting American tourists in Europe. While China's recovery boosted sales, Tiffany & Co's US sales slowed. 

Resilient demand from the affluent cushioned against inflationary pressures. Third-quarter sales reached €19.8 billion, up 19% year-on-year, outperforming analyst projections.

A YouTuber complained that her Louis Vuitton pouch has defects on them, which is unfortunately commonly heard in the luxury sphere these days. Vintage pieces from the brand are still as sturdy despite being aged. However, this is subjective as there are some vintage pieces that are in bad condition as well. 

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