French luxury goods company LVMH Moet Hennessy Louis Vuitton revealed on Tuesday that its revenue in the third quarter of fiscal 2024 declined by 3% compared to the same period last year, reaching €19.1 billion.
LVMH's financial update revealed revenue in the company's largest unit, Fashion & Leather Goods, reached €9.1 million, standing 5% lower than last year. During the nine months of the fiscal year, the group's revenue was down 2% from the corresponding timeframe the year before, landing at €60.7 billion.
"In an uncertain economic and geopolitical environment, the Group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in distribution, and agile organization," LVMH said in the document.
