LVMH Reports Slowed Growth in Third Quarter Amidst Shifting Luxury Consumer Trends
October 13, 2023
Luxury conglomerate LVMH, though still boasting impressive organic growth for the year, faced a notable slowdown in the third quarter, with organic growth dropping to 9% from previous 17% advancements. The influence of geopolitical uncertainty on luxury consumer behavior is evident, as Affluent Consumer Research Company’s CEO, Chandler Mount, notes a decrease in consumer confidence and luxury spending. This shift in trends is reflected globally, with Japan being the exception, maintaining a robust 30% organic growth rate.
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