Luxury goods group LVMH sees sales in Chinese market slow

LVMH shares have been volatile since the luxury slowdown emerged, and are down about 20% over the past year.

Sales at the world's biggest luxury group LVMH grew to €20.98bn, a 1% rise on an organic basis, which strips out currency effects and acquisitions. Picture: Michel Euler, AP

LVMH sales growth slowed in the second quarter as Chinese shoppers reined in spending on high-end fashion at home, even as demand in Western markets picked up slightly.

Sales at the world's biggest luxury group and owner of labels Louis Vuitton, Tiffany & Co, and Hennessy, grew to €20.98bn ($22.8bn), a 1% rise on an organic basis, which strips out currency effects and acquisitions.