At most, LVMH's share has fallen by 7.5 percent this morning. So far this year, the company's share has dropped by around 20 percent.
The decline follows a quarterly report released on Tuesday evening, which showed that sales in the company's most important category, luxury fashion and handbags, fell by 5 percent. This is the worst figure since the second quarter of 2020, during the pandemic.
According to Bloomberg's compilation, analysts had instead expected a slight increase in sales.
One explanation, according to the company, is a decline in luxury consumption in China. In the region that includes China, sales decreased by 16 percent during the quarter.
LVMH has, among other things, Louis Vuitton, Christian Dior, Kenzo, Fendi, and Marc Jacobs in its fashion portfolio. In addition, the company owns everything from hotels to spirits manufacturers.
The company is owned by one of the richest people in the world, the Frenchman Bernard Arnault.
