LVMH (MC FP) CEO says global market is difficult and disturbed; this year unlikely to be very straightforward; see improvement of trends across activities
Importance
Level 1
- Louis Vuitton Beauty business was off to a good start and keeps growing double digit.
- Arnault Family will have more than 50% of LVMH equity soon.
- Short-term visibility is poor, but remains optimistic on the medium-term outlook.
- CFO says there was an incremental slowdown with US client, mainly due to comp base, while China trends were stable.
- Head of LVMH wines and Spirits says sales decline is due to the economic context, not structural; demand in US is declining across the product range.
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