Hermès bags support from super-wealthy despite China slowdown
Design house Hermès has reported resilient sales figures despite a wider slowdown in the luxury market.
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Design house Hermès has reported resilient sales figures despite a wider slowdown in the luxury market.
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LVMH, the world’s largest luxury brand, reported its worst quarterly performance since 2020 during the three months leading up to September, resulting in a 10% drop in its American Depositary Receipts (ADR) shares on US markets on Tuesday. According to its press release, the Paris-based conglomerate's third-quarter organic sales fell by 3% year-on-year, marking the first decline since the pandemic, driven by weakened demand in China and Japan.
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