LVMH, the world’s largest luxury conglomerate, reported a 3% decline in third-quarter sales, falling short of estimates due to weakened demand in China and Japan. The fashion and leather goods division, including Louis Vuitton and Dior, saw a 5% sales drop. This outcome exacerbates existing market volatility and investor concerns, highlighting a broader slowdown in the luxury sector.
Related Posts
Now, SEBI investigating whether Adani Group flouted disclosure rules
The Securities and Exchange Board of India has asked officials at the stock exchanges if Adani Green Energy Ltd. failed to properly disclose the US […]
GoM proposes 35% hike in GST on cigarettes, tobacco, aerated drinks
The Group of Ministers (GoM) on GST rate rationalisation decided to increase tax rates on aerated beverages, cigarettes, tobacco, and related products to 35% from […]
Forex reserves dip for 3rd week in row, reach $688 billion level
India’s foreign exchange reserves fell to $688.2 billion by Oct 18, marking a third consecutive week of decline with a drop of nearly $2.2 billion. […]