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LVMH in red amid fears over Louis Vuitton bag sales

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LVMH in red amid fears over Louis Vuitton bag sales

The party could be over at LVMH as shoppers cut back on spending on its designer bags and clothes, brokers warned.

Subdued demand and an economic slowdown in China means a post-pandemic boom in sales at the luxury fashion giant has come to an end, analysts at investment bank Morgan Stanley said. 

Customers have less cash to splash on high-end goods due to high inflation and soaring interest rates.

In the red: Founder and chief Bernard Arnault, with daughter Delphine
In the red: Founder and chief Bernard Arnault, with daughter Delphine© Provided by This Is Money

The French owner of Louis Vuitton, Dior and Fendi, and its competitors are facing an 'industry-wide deterioration in demand', the brokers said.

The bank also questioned if its appointment of rap star Pharrell Williams as men's creative director was paying off.

Story by Jessica Clark: Daily Mail

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