Despite the complex macroeconomic environment, luxury consumption has remained remarkably stable due to consumers’ strong desire for exceptional living experiences.

At the LVMH pavilion, Hennessy showcased its initiatives and strategies from multiple dimensions—including products, craftsmanship, artist collaborations, and sustainability—highlighting the brand’s efforts globally, with a particular focus on China.

“The strong performance across each geographic region this quarter highlights the resilience of our diversified growth drivers and the growing strength of our high-end consumer base, giving us the confidence to raise our fiscal year outlook ahead of the critical holiday season.”

During the reporting period, Capri Holdings’ total sales revenue was $1.08 billion, reflecting a 16.4% decline compared to the previous year at both reported and constant currency rates.

The Chinese market is the company’s most significantly declining market.

LVMH Group CFO Jean-Jacques Guiony Appointed President and CEO of the Wines & Spirits Division.

Analysts stated that the revised outlook still appears conservative, expressing optimism about future growth opportunities.

In the first nine months, the company’s gross profit margin reached 55.4%, and its operating profit margin was 17.4%, both setting record highs for the second consecutive year.

On November 8, 2024, the Luxe.CO Sports and Outdoor Investment Salon was successfully held at the Jing’an Shangri-La Hotel in Shanghai.

At constant exchange rates, sales in the Asia-Pacific region contracted by 18%. Although certain markets, including South Korea and Malaysia, experienced growth, combined sales in the Chinese Mainland, Hong Kong, and Macau declined by 27%.