Luxury goods bellwether LVMH (LVMH.PA) reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as strong wave of post-pandemic spending eases up amid a backdrop of rising inflation and economic turbulence.
People walk past the Louis Vuitton store at Miami Design District, in Miami, Florida, U.S. November 30, 2021. REUTERS/Marco Belloreported a 9% rise in third quarter revenue on Tuesday, marking slower growth as strong wave of post-pandemic spending eases up amid a backdrop of rising inflation and economic turbulence.
LVMH is facing slowing demand for high end goods in the United States and Europe, where rising prices have prompted shoppers — especially younger generations — to pull back from a post-pandemic spending euphoria, while the recovery in China has been uneven.
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