LVMH Moët Hennessy Louis Vuitton reported that its sales for the third quarter increased by 1% on an organic basis, reaching a total of €18.50 billion.
The company reported that its Fashion & Leather Goods division saw a decline of 5% on an organic basis, with sales in the segment totaling €8.2 billion.
LVMH attributed the slowdown in the Fashion & Leather Goods division to a decrease in demand in China during the third quarter. However, the company noted that this division continued to benefit from a buoyant market in the United States.
The conglomerate stated that the economic and geopolitical environment remains uncertain.
LVMH indicated that it will focus on enhancing the desirability of its brands.
