Recovery in Sight for Luxury Sector?
LVMH's Q3 report suggests a potential recovery in luxury spending, driven by renewed consumer appetite, particularly in China.
The fashion industry's mood may be brightening, with LVMH, the world's largest luxury group, delivering a cautiously optimistic third-quarter report. The group's portfolio includes Louis Vuitton, Dior, Celine, and Loewe, and reported a 2 percent decline in revenues in its key fashion and leather goods division.
This decline is a marked slowdown from the 9 percent decline in the previous quarter, suggesting that the long-anticipated recovery in global luxury spending may finally be taking shape.
LVMH thinks so
Author's summary: LVMH's Q3 report indicates a potential recovery in luxury spending.
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