16-October-2024
Economy News
 
LVMH Investors Jittery Over Anaemic China Demand for European Designer Goods
15-Oct-2024

Investors in French luxury group LVMH are eager for signs that China's new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out of their funk, inspiring them to splash out on $4,300 designer leather handbags ahead of Singles Day, China's largest annual shopping spree. Global luxury bellwether LVMH, whose portfolio spans Louis Vuitton and Dior fashion and accessories, Tiffany & Co jewellery and Sephora cosmetics, reports third-quarter revenue on Tuesday. Global sales of personal high-end goods - spanning clothing, accessories and beauty products - this year will be between flat and 4% higher year-on-year, at constant rates, the consultancy Bain has previously said. The global slowdown is most marked in China as economic uncertainty weighs on middle-class shoppers and makes those who can still afford luxury cautious about ostentation. LVMH shares, alongside peers Gucci-owner Kering, Hermes and Richemont, owner of Cartier, have been on a roller coaster this year.

News Source:- https://money.usnews.com/investing/news/articles/2024-10-14/lvmh-investors-jittery-over-anaemic-china-demand-for-european-designer-goods