LVMH's sales growth slowdown

LVMH, the world's largest luxury goods group, reported slowing sales growth in the third quarter of 2023, with revenue rising just 9%. This is down from 17% growth in the previous quarter and below analysts' expectations.

The slowdown is being attributed to a number of factors, including the cooling of the post-pandemic luxury boom and the underwhelming recovery in China. LVMH's wines and spirits division, which includes Hennessy cognac, was particularly hard hit, with sales falling 14% in the quarter.

The results suggest that the luxury sector is not immune to the economic challenges facing the world. However, LVMH remains well-positioned to weather the slowdown, thanks to its strong brand portfolio and loyal customer base.

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