LVMH flagship brand Louis Vuitton, luxury goods handbags and ready to wear fashion brand, has reported a decline in revenue by 27 percent to € 18.4 billion in its H1of the FY 2020 as compared to the revenue of € 25.1 billion in the previous year. There is also a dip of 68 percent in profit from recurring operations to € 1.7 billion.
Fashion & leather goods revenue during the first half plunged 23 percent to €7.9 billion (€10.4 billion). This performance was marked by the closure of stores in many regions across the world. However, China recorded a strong recovery during the second quarter and there has been a gradual improvement since May in Europe and the United States, as the company stated.
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