LVMH Reports Q3 Sales of €18.50 Billion, With Fashion & Leather Goods Down 5%

LVMH Moët Hennessy Louis Vuitton (LVMUY) reported its third-quarter sales figures, showing organic growth of 1% to reach €18.50 billion.

The company’s Fashion & Leather Goods division, which represents a significant portion of its portfolio, saw organic sales decline by 5% to €8.25 billion for the quarter.

LVMH attributed the decline in the Fashion & Leather Goods segment to a slowdown in demand in China. Conversely, the division continued to benefit from a buoyant market in the United States.

The conglomerate noted that the overall economic and geopolitical environment remains uncertain. Management stated that the company will focus on enhancing the desirability of its brands.