LVMH Fashion Revenues Drop 5%, Signaling Troubles Ahead In The Luxury Market [Forbes]
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Source: Forbes
tariff concerns and weaker demand, particularly in the US and China, impacted other luxury brands. Only Europe saw growth. LVMH remains confident, citing long-term strategy. Analysts see a luxury spending "pause," not a crash, advising brands to watch consumer sentiment, not just sales. LVMH just delivered a blow to investors in first quarter earnings. Organic revenues dropped 3%, from $23.4 billion (€20.7 billion) same period last year to $23 billion (€20.3 billion), way below estimates that projected sales to grow 2%, according to Reuters Investors punched back, leading to an immediate 8% drop in LVMH share price and for brief time, LVMH lost its number one position as the world's most valuable luxury company to Hermès, according to the Wall Street Journal . The news also sent other luxury brand stock prices down, including Prada, Salvatore Ferragamo, Kering, Richemont and Brunello Cucinelli. Forbes estimates that Bernard Arnault's fortune plunged by $9 billion to $146.5 billi
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