LVMH sales growth slows

Sales in the Middle East plunged by 50% in March as rich tourists from the region also reduced their spending in Europe.

LVMH's fashion and leather goods division, typically a strong performer, saw a notable slowdown in growth compared to previous years.

CFO Cécile Cabanis stated that the 'party has been postponed' for the luxury sector as geopolitical instability continues to weigh on consumer confidence.

The results have sent a warning signal to the wider luxury industry, with Kering and Hermès also set to report their earnings this week.