How significant then is this new wave of store openings for LVMH and its China strategy. At a time when we're thinking about deflation in China, a pretty weak consumer housing market that is certainly not recovered. What is driving the shift back towards luxury spending if indeed we are seeing that.Right. So the scale of the new store openings is certainly significant because we're talking about four major LVMH brands, including Louis Vuitton, Dior, Tiffany and Loro Piana, and they're all opening multi-stor ...

来源：市场资讯 （来源：LADYMAX） 中国消费者在全球消费的LVMH产品仍然为个位数负增长 作者 | Drizzie 奢侈品迎来难得一见的乐观情绪。 LVMH今年以来股价走势 作为奢侈品行业的风向标，LVMH的表现对市场具有强烈示范效应，自2023年第三季度LVMH业绩转冷 以来，奢侈品行业经历了长时间低迷。 由于奢侈品市场在糟糕的第二季度业绩后缺乏明确改善信号，LVMH在发布第三季度业绩之前，市场并 未形成乐观预期，该上市公司也未向资本市场进行相关沟通，使得这份有机收入增长1%的季度业绩给 市场带来了远超预期的巨大震撼。 在此次业绩发布前，摩根士丹利和伯恩斯坦发布报告，均暗示最糟糕的时候可能已经过去，LVMH仍是 新奢侈品消费者的首选入口，也是投资者观察行业复苏的第一窗口。 全球最大奢侈品集团LVMH昨日发布第三季度财报，收入同比下跌4%至182亿欧元，有机增长1%，显 著超过分析师预期，成为今年以来首个实现销售反弹的季度。 资本市场将其作为LVMH重返正增长轨道、奢侈品市场回暖的转折信号，推动LVMH昨日股价大涨 12%，市值突破3000亿欧元，重返法国最高市值企业。 据时尚商业快讯监测，该集团也带动 ...

Core Insights - LVMH's sales increased by 1% in Q3, marking the first quarter of growth this year, driven by improved demand in China [1][5] - The luxury goods sector is experiencing a prolonged slump, but LVMH's performance offers some relief [1][7] Sales Performance - LVMH reported quarterly sales of 18.28 billion euros ($21.17 billion), surpassing expectations of flat sales [5] - The fashion and leather goods division, which includes brands like Louis Vuitton and Dior, saw a 2% decline compared to the previous year, but this was an improvement from a 9% drop in Q2 [4][6] Regional Trends - Notable improvement in sales trends was observed in Asia, particularly in mainland China, which turned positive in Q3 [2] - The CFO indicated that the luxury market in Asia, excluding Japan, showed "noticeable" improvement [2] Market Challenges - LVMH faces challenges in Q4, including unfavorable currency rates and ongoing economic uncertainty [2] - The luxury sector has been impacted by price hikes and economic factors such as tariffs and the real estate crisis in China [7][8] Investor Sentiment - LVMH's U.S. shares rose by 7.5% following the positive trading update, indicating a shift in investor sentiment towards the luxury sector [4]

Core Insights - Kering, the parent company of luxury brands like Gucci and Saint Laurent, confirmed a cyberattack in April that compromised consumer data of potentially millions of customers [1][4] - The hacker group Shiny Hunters claimed responsibility for the breach, stating they have access to 7.4 million unique email addresses [3] - Kering has assured customers that no financial data was stolen, but critical personal information such as names, email addresses, and phone numbers were compromised [2][3] Cybersecurity Threats - The luxury sector is increasingly targeted by cybercriminals, with recent attacks on other major brands like LVMH and Chanel highlighting the vulnerability of high-end retailers [5][6] - The nature of luxury clientele, with spending ranging from $10,000 to $86,000, makes their data particularly valuable for scams and extortion [6] - Cybersecurity is a significant concern for luxury brands, impacting business continuity and brand reputation [9] Financial Impact - Kering reported a 16% decline in sales to $9 billion (€7.6 billion) in the first half of 2025, following a 12% drop to $20.4 billion (€17.2 billion) the previous year [10] - The luxury industry is anticipating a sales decline of 2% to 5% this year, compounding the challenges faced by Kering [10] Technology Investment - Luxury brands are investing more in customer-facing technology (40%) compared to cybersecurity (21%), which may leave them vulnerable [7] - A significant portion of technology investments is directed towards external vendors (68%), potentially creating security risks [7]