Luxury stocks plummet after LVMH warns of weakening demand in China

From Google: 2024-07-24 13:13:00

Luxury stocks plummeted after LVMH voiced concerns about weakening demand in China. This drop affected various luxury brands such as Tiffany, Burberry, and Richemont.

LVMH reported weak demand in China, leading to a significant decrease in luxury stocks. Stocks of luxury giants like LVMH, Tiffany, and Richemont all took a hit following this news.

Luxury retailers like Tiffany and Burberry saw their stocks slide after LVMH warned of declining demand in China. This news caused a ripple effect across the luxury sector, impacting various high-end brands.



Read more at Google: Luxury Stocks Drop After LVMH Adds to Chinese Demand Worries – The Wall Street Journal