LVMH warns of luxury shopping slowdown among Chinese customers
LVMH says Chinese shoppers are hitting the brakes.
“For the past three months, Chinese tourists have been traveling less and buying less,” deputy CEO Stéphane Bianchi told French lawmakers during a hearing Wednesday. The warning follows a rare earnings miss last month, with weaker sales in its fashion, leather goods, and wine and spirits businesses.
Bianchi added that the company is done raising prices for now in its wine and spirits category, which includes Moët & Chandon, Veuve Clicquot, and Hennessy. “We cannot increase prices indefinitely,” he said.
He also noted a shift in local tastes, with Chinese consumers showing growing interest in homegrown jewelry brands. As for the US, he said the outlook is still murky thanks to ongoing tariff uncertainty. LVMH shares are down about 16% year to date.
Bianchi added that the company is done raising prices for now in its wine and spirits category, which includes Moët & Chandon, Veuve Clicquot, and Hennessy. “We cannot increase prices indefinitely,” he said.
He also noted a shift in local tastes, with Chinese consumers showing growing interest in homegrown jewelry brands. As for the US, he said the outlook is still murky thanks to ongoing tariff uncertainty. LVMH shares are down about 16% year to date.
