Sharp fall in Louis Vuitton owner’s sales suggests the 2008 financial crisis is a poor guide to how designer brands will fare amid coronavirus Luxury brands have a well-earned reputation for resilience.
Major labels bounced back from the 2008 financial crisis within 18 months and shrugged off political protests in Hong Kong last year.
But the Covid-19 pandemic looks different and could lay them much lower. LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury company, gave investors their first read on the industry’s performance through the health crisis after the Paris stock market closed Thursday.
It reported a 17% decline in sales for the first quarter versus the comparable period of 2019. Revenue at its flagship fashion and