Core Viewpoint - Singapore's retail sales experienced a year-on-year growth of 4.5% in October 2025, driven by strong sales in watches, jewelry, and leisure goods, marking the eighth consecutive month of growth in retail sales [1] Retail Sales Performance - The total retail sales in Singapore for October amounted to approximately 4.4 billion Singapore dollars (around 3.4 billion USD) [1] - Excluding automobile sales, the retail sales increased by 3.7% year-on-year, surpassing the 1.8% growth recorded in September [1] - Seasonally adjusted, retail sales rose by 2.3% month-on-month, with a 2.9% increase when excluding automobile sales [1] Category-Specific Growth - Among the 14 categories in the retail sector, most recorded year-on-year growth in October [1] - The watches and jewelry sector saw a significant sales increase of 25.0%, primarily driven by jewelry sales [1] - The leisure goods sector experienced a year-on-year sales growth of 20.4% [1] - Automobile sales also grew by 9.7% year-on-year [1] Declines in Certain Areas - Sales at gas stations declined by 17.4% year-on-year [1] - Sales of food and alcoholic beverages decreased by 2.5% year-on-year [1] Online Retail Sales - Online retail sales accounted for 14.5% of total retail sales in October, slightly down from 15.0% in September [1]

Group 1: Data Breach Incident - Louis Vuitton experienced a data breach affecting approximately 419,000 customers in Hong Kong, with personal data including names, passport numbers, birth dates, addresses, email addresses, phone numbers, shopping records, and product preferences compromised [1] - The company has taken immediate action to prevent unauthorized access and has strengthened system protections, assuring customers that payment information remains secure [1] - The incident was reported to the Hong Kong Privacy Commissioner, with the breach initially detected by the French headquarters on June 13 and affecting Hong Kong customers by July 2 [1] Group 2: LVMH Group Overview - LVMH, established in 1987, is the world's largest luxury goods group, encompassing six business sectors: wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, selective retailing, and hospitality and media [2] - For Q1 of the 2025 fiscal year, LVMH reported total revenue of €20.3 billion, a 2% year-over-year decline, with organic revenue down 3%, falling short of market expectations [2] - The fashion and leather goods segment, which includes Louis Vuitton and Dior, accounted for nearly half of the group's total sales, with sales of €10.1 billion, a 5% decline compared to expectations of flat performance [2] Group 3: Market Performance - Organic sales in the Asia-Pacific region, including China, fell by 11%, with its contribution to total sales decreasing from 33% in 2024 to 30% [3] - The U.S. market saw a 3% decline in sales, primarily due to the performance of Sephora and aggressive pricing competition from Amazon [3] - The European market, however, experienced a 2% increase, making it the only region to show growth in the first quarter [3] Group 4: Price Adjustments - On April 15, Louis Vuitton raised prices on certain bags, with the Speedy trunk 20 increasing from 23,500 to 24,400 [4]