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LVMH first-quarter revenue drops 15pc to $11.5B over COVID-19 lockdowns

Posted ByLuxury Daily News ServiceOn In Apparel and accessories,Featured,Financial services,Industry sectors,Retail | No Comments
Brave face on hard numbers: LVMH's first-quarter 2020 revenue fell 15 percent to $11.5 billion. Image credit: LVMH Brave face on hard numbers: LVMH's first-quarter 2020 revenue fell 15 percent to $11.5 billion. Image credit: LVMH

 

By Luxury Daily News Service

French luxury conglomerate LVMH Moët Hennessy Louis Vuitton, slammed by COVID-19 lockdowns in its key markets worldwide, saw first-quarter revenue drop 15 percent to $11.5 billion compared to the year-ago period, or a 17 percent fall on an organic basis.