Concerns about the Chinese consumer in the wake of results from LVMH weighed on the luxury sector on Wednesday, taking in skiwear brand Moncler, Gucci-owner Kering and British house Burberry as well as LVMH itself.
LVMH, the owner of the Louis Vuitton and Dior brands, said late on Tuesday it recorded a 10 per cent increase in sales during its third quarter, in line with analysts’ expectations. But it also cautioned that it would “continue to be vigilant” in what it described as an “uncertain geopolitical and monetary context”.
Kering was 5.2 per cent lower, Moncler 3.5 per cent, LCMH 4.3 per cent and Burberry 4.2 per cent down an hour after the start of trading.
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