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LVMH's Q3 sales in Asia (excluding Japan) fell due to a mid-double-digit slowdown in demand from China.
LVMH Moët Hennessy Louis Vuitton SE stated in its earnings call that Asia (excluding Japan) was the only region to experience a sales decline in the third quarter ending September, primarily due to a "mid-double-digit" slowdown in Chinese demand. This was attributed to a sharp deterioration in Chinese consumer confidence amid an unfavorable macroeconomic environment, significantly impacting discretionary spending. Concurrently, a series of trademark lawsuits filed by Louis Vuitton in China coincided with this demand slowdown.
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