LVMH Shares Plummet as Luxury Group Faces Slowing Sales Growth Amid Economic Uncertainty
October 11, 2023
French luxury conglomerate LVMH’s stocks have hit their lowest point since December, following a report of decelerated third-quarter sales growth. This slowdown is seen as a reflection of the impact of inflation and global economic uncertainties on consumer spending in the post-pandemic era. The trend is not limited to LVMH, as other luxury brands like Kering, Hermes, Swatch, Richemont, and Burberry are also experiencing stock declines.
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