LVMH sales drop as copper expenses to Louis Vuitton bags

(Bloomberg) – Sales of LVMH fell at the beginning of the year, while wealthy buyer used financial markets in purchase of expensive handbags as threats of a trade war. Revenue with the French luxury group’s fashion and learning division, its largest unit, fell 5% in the first quarter, LVMH Moët Hennessy Louis Vuitton’s Monday said in a statement. Analysts expected a 0.55%drop. Louis Vuitton owner LVMH is the first European luxury group to release the results of the first quarter. The company, led by billionaire Bernard Arnault, is generally considered a clock for the industry because it sells a wide range of high goods, from Christian Dior jackets to tiffany-lagging rings, Tag Heuer watches and stupid Perignon Champagne. The luxury market is struggling to get out of a period of sluggish growth that is partly caused by Chinese buyers who are in high purchases purchases. The prospects of the industry have even become Murkier since US President Donald Trump slapped 10% rates on the import of the European Union for 90 days this month, after threatening even higher charges. The turmoil of the trade has sent European shares over the past few weeks. LVMH is down 17% so far this year. Analysts and investors will investigate what the new CFO Cabanis chief financial officer says about rates, China and the current luxury demand at a conference to the results. Her predecessor, Jean-Jacques Guiony, moved in February to oversee the company’s struggling wines and spirits division, suffering from rates imposed by China on its Hennessy Cognac. Later this week, Moncler Spa, manufacturer of expensive ski jackets, and Birkin-Bag Maker Hermès International SCA will report sales, while LVMH’s Arnault will speak at the annual shareholders’ meeting on Thursday. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP first published: 14 Apr 2025, 09:42 IST