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Stocks for some of Europe's most famous luxury brands are plummeting to their lowest level in years as Chinese customers cut back purchases and an industry revamp fails to launch.
The idea of a three-way summit between President Donald Trump, Chinese leader Xi Jinping, and Russian President Vladimir Putin to end the Ukraine war sounds about as preposterous as abducting a Venezuelan president, launching a trade war against Canada, or killing Iran's top leaders without briefing Congress.
LVMH reported very modestly positive organic sales growth for Q3. Most businesses showed a strong performance despite challenging industry and consumer environments. The fashion segment, LVMH's clearly most important business, showed sharp weakness. Headwinds in China weigh on LVMH's overall performance.
LVMH's latest quarterly results have intensified concerns about the outlook for the luxury goods industry.
LVMH Moët Hennessy remains a Sell as the luxury growth narrative has broken, with shares down ~30% over twelve months. Fashion & Leather Goods, LVMH's largest and highest-margin segment, saw a 5% organic sales decline in Q3, accelerating the downtrend. Management attributes weakness to China, but peer results suggest LVMH-specific issues; recovery catalysts are not yet visible.
LVMH shares indicated lower as China weakness weighs on sales
LVMH share price continued to struggle this month, hovering near its lowest level since December 2020. The stock is down more than 54% from its 2023 peak, erasing billions of dollars in value as market capitalization has fallen from €439 billion to about €189 billion.
LVMH Moët Hennessy - Louis Vuitton, Société Européenne (LV:CA) Q3 2026 Sales/Trading Call Transcript
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