LVMH shares fall 4% as business suffers from weak Chinese demand

LVMH Moët Hennessy Louis Vuitton, the world's leading luxury goods group, reported mixed results for the first half of 2024. As a result, the company's shares fell over 4% in Wednesday's trading session.

"The results for the first half of the year reflect LVMH's remarkable resilience," said Chairman and CEO Bernard Arnault."While remaining vigilant in the current context, the Group approaches the second half of the year with confidence, and will count on the agility and talent of its teams to further strengthen its global leadership position in luxury goods in 2024."

The group also saw rapid growth in fragrances and makeup, with Sephora's strong performance solidifying its position as the leader in beauty retail.

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