cover of episode Luxury goods company LVMH shares take a tumble

Luxury goods company LVMH shares take a tumble

2025/4/15
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Angelina Basquiat
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Fiona Sincotta
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Nick Marsh
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Scott Hamilton
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Yuna Koo
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我观察到LVMH第一季度业绩令人失望，各个部门均未达预期，尤其是关键的时尚和皮革制品部门（包括路易威登、迪奥等品牌）。主要问题在于中国市场需求持续疲软，房地产市场、青年失业等问题导致消费需求低迷。此外，美国市场的表现也逊于预期。虽然关税的影响主要体现在第二季度，但在第一季度末，我们已经看到关税对所谓的‘有抱负的消费者’（购买入门级产品，如美妆、化妆品或白兰地）产生了影响。总的来说，这是一个复杂的情况，中美两国市场都受到了影响。 鉴于关税的不确定性，LVMH可以通过提高价格和调整产品运输策略来应对，例如在潜在的20%关税生效前增加运往美国的商品数量。他们也可以考虑提高在美国的产量，因为路易威登和蒂芙尼在美国已经有工厂，但他们不会从根本上改变其在美国的生产战略。 值得注意的是，Hermès目前在市值上仍领先于LVMH。Hermès凭借其高端定位和稳定的客户群体，在当前市场环境下表现相对强劲。奢侈品市场存在很大的心理因素，市场波动会影响高净值人群的消费意愿。如果人们看到自己的401k或股票投资组合下跌，他们可能会减少奢侈品消费。

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LVMH, a leading luxury goods company, reported disappointing first-quarter results, with a 3% decline in sales. This underperformance, particularly in the Asian and US markets, is attributed to a slowdown in consumer demand in China and concerns about potential tariffs. The report also discusses the resilience of competitors like Hermès.
  • 3% decline in LVMH's first-quarter sales, below analyst expectations
  • Slowdown in consumer demand in China and the US
  • Concerns about the impact of President Trump's tariffs
  • Hermès's stronger performance compared to LVMH

Shownotes Transcript

Luxury goods company LVMH shares take a tumble as the company suffers a 3% decline in first quarter sales China's president Xi Jinping is heading to Malaysia in an attempt by Beijing to portray itself as a stable trading partner in contrast to the US And Boeing shares have taken a dive - down over 3% on Wall Street, amid reports that President Trump's tariff policies could hit its future sales