Slow down in Asia for LVMH Group
LVMH, parent company of LOUIS VUITTON, have recently annouced an overall drop in sales by 28%, highlighting the slowing down of sales in Asia. Although China has been a dynamic market, South Korea has slowed down. This comes as other major competitors such as HERMES, GUCCI and PRADA show healthy results in Asia and exceptional sales in South Korea.
Globally sales of LOUIS VUITTON have grown by 10%, yet analysts predict a slow down for the coming months. CPP Management Consultants Ltd believes LOUIS VUITTON will continue to show weak performances, due to the exposure given by its large network of directly operated stores and therefore, a larger availability of its products.