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LVMH Investors Concerned Over Weak China Demand for Luxury Goods

Somto NwanoluebySomto Nwanolue
October 14, 2024
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LVMH Investors Concerned Over Weak China Demand for Luxury Goods
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The French luxury group, LVMH’s investors are eager for signs that China’s new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out of their “blue funk” causing them to splurge $4,300 on designer leather handbags in anticipation of Singles Day —China’s largest annual shopping spree.

Global luxury bellwether LVMH, whose portfolio covers Louis Vuitton and Dior fashion and accessories, Tiffany & Co jewellery and Sephora cosmetics, will be reporting its third-quarter revenue on Tuesday, October 15 but it is expected that global sales of personal high-end goods – spanning clothing, accessories and beauty products – this year will fall between flat and 4% higher year-on-year, at constant rates, according to the consultancy Bain.

The global slowdown is most noticed in China as the economic uncertainty has taken its toll on middle-class shoppers and compelling those who can still afford luxury hesitant about ostentation.

Analysts at Bank of America have cited the deterioration in sales to the Chinese, who were the primary growth driver in the first half of the year.

Predicting the third-quarter will be the worst for the sector in four years, with a 1% decline in organic sales year-on-year, they also lowered estimates for earnings per share for next year by 17% on average.

Analysts are confident that Chinese shoppers will regain their love for high-end fashion at some point, and that sector forecasts have begun counting on a healthy acceleration in demand from Chinese in 2025.

In a bid to expand its efforts increasing its market share in China, LVMH recently enhanced its partnership with Alibaba to leverage the e-commerce firm’s cloud and artificial intelligence capacities.
Already, LVMH’s travel retail unit, DFS Group, is building a major shopping and entertainment complex on China’s tax-free Hainan island.

Tags: chinafederal characterinvestorsLuxury goodsLVMHLVMH Investors Concerned Over Weak China Demand for Luxury GoodsNews
Somto Nwanolue

Somto Nwanolue

Somto Nwanolue is a news writer with a keen eye for spotting trending news and crafting engaging stories. Her interests includes beauty, lifestyle and fashion. Her life’s passion is to bring information to the right audience in written medium

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