Luxury Loses Its Luster: Asia Sees Tougher Markets

The transcript discusses LVMH's challenges, particularly in the fashion and wines and spirits divisions, due to China's crackdown on lavish spending. The impact is significant on cognac sales, with a noted slowdown in the Asian market. Despite this, LVMH's perfumes and watches divisions show growth, though they have lower margins. The US and Europe markets help offset the Asian slowdown. The transcript also highlights concerns from other luxury brands like Mulberry and Burberry about the Asian market, exacerbated by Hong Kong protests.

What are the main concerns for LVMH as mentioned in the report?

How has the government crackdown in China affected LVMH's sales?

What impact did the Hong Kong protests have on Chinese spending?

What is the expected growth rate for personal luxury products this year according to Bain?

Which divisions of LVMH showed growth despite the slowdown in Asia?