A slowdown in China’s luxury spending led LVHM to fall 7.5%, its worst decline since COVID-19, with the stock down 21% YTD.
(Bloomberg) — LVMH shares fell after fashion and leather goods sales fell for the first time since the pandemic, revealing the scale of the decline in demand from once insatiable Chinese consumers. Organic revenue at the core unit whose brands include Louis Vuitton and Christian dior There was a 5% decline in the third…