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Louis Vuitton owner's sales slide in Q2 after virus hit
[PARIS] LVMH, the world's biggest luxury goods group, said comparable sales in the second quarter had plunged by 38 per cent due to the fallout from the coronavirus pandemic, though the Louis Vuitton owner noted a recovery that has gathered strength since June.
The group said its fashion and leather goods division, home to its Vuitton and Christian Dior brands and other smaller ones like Givenchy, had recorded a 37 per cent fall in like-for-like sales, which strip out the impact of currency swings and acquisitions.
Overall, LVMH's revenues came in at 7.8 billion euros (S$12.6 billion) in the April to June period, down 38 per cent on a like-for-like basis.