Is Recovery in Sight for the Luxury Sector?
LVMH's Q3 report suggests a potential recovery in luxury spending, driven by renewed consumer appetite, particularly in China.
The fashion industry’s mood may be brightening, if only by a few degrees. LVMH, the world’s largest luxury group, delivered a cautiously optimistic third-quarter report, suggesting that the long-anticipated recovery in global luxury spending may finally be taking shape.
After several quarters of challenges, the group—whose portfolio spans Louis Vuitton and Dior to Celine and Loewe—reported that revenues in its key fashion and leather goods division fell by just 2 percent in the three months through September.
While modest, this represents a marked slowdown from the 9 percent decline in the previous quarter.
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Author's summary: LVMH's Q3 report shows potential recovery in luxury spending.
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