The luxury goods giant has committed to brand investment despite experiencing its first quarterly revenue decline since the pandemic.
LVMH said it is “not giving up” and will “continue to invest behind brands” across stores, marketing, media and events after third quarter sales fell 3%.
The French luxury giant, which owns brands such as Celine and Moët Hennessy, generated €19.08bn (£16.6bn) in revenue for the three months ending September, a 3% fall on an organic basis.
The fashion and leather goods division, which includes Louis Vuitton and Dior, posted a 5% drop in sales, missing expectations of 4% growth. These results mark the company’s first quarterly revenue decline since the pandemic.