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China’s growing love for dupes isn’t just a problem for established brands such as Louis Vuitton. Sales at its luxury powerhouse owner, LVMH, dropped 10% in the first six months of this year ...
In 2022, Louis Vuitton announced a €1 million donation to UNICEF to help the Ukrainian victims of the Russian invasion. [107] On 2 March 2022, LVMH Group pledged €5 million to the Red Cross to those affected by the war. [108] [109] In addition, the company closed 124 of its stores in Russia. [110]
Louis Vuitton Malletier SAS, ... Louis Vuitton has been operating in China for 30 years and nowadays the country is the main market for the French maison, boasting ...
Louis Vuitton employees in China were forced to count 600,000 yuan (approximately $110,000) in cash, paying the price for allegedly mistreating a customer.
FILE - Pages from the Shein website, left, and from the Temu site, right, are shown in this photo, in New York, June 23, 2023. (AP Photo/Richard Drew, File)
The shopping mall is one of the largest in Nanjing and features flagship stores of numerous luxurious brands, including Gucci, Yves Saint Laurent, Louis Vuitton, Bvlgari, Cartier, Dior, Hermes, Chanel, prada, Tiffany & Co., among others.
LVMH struck a "cautiously" confident tone for the year ahead on Tuesday after fourth-quarter sales held up despite fears of a China slowdown, and growth picked up at its Louis Vuitton megabrand.
China will consume half the global market value of luxury goods. [20] [21] Consolidation: Consolidation involves the growth of big companies and ownership of brands across many segments of luxury products. Examples include Kering, LVMH, and Richemont, which dominate the market in areas ranging from luxury drinks to fashion and cosmetics. [22]
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