French luxury giant LVMH reported a 3% fall in third-quarter sales on Tuesday, undershooting estimates in its first decline in quarterly sales since the pandemic as demand in China and Japan weakened,

LVMH shares, listed on the Euronext Paris stock exchange, fell 4% on Wednesday having lost 19% of their value in the year-to-date. The French conglomerate’s warning comes as an

LVMH shares plunged after sales of fashion and leather goods fell for the first time since the pandemic, revealing the scale of the slump in demand from once insatiable Chinese consumers.

Bernard Arnault’s luxury fashion group LVMH on Wednesday led its rivals’ shares downward after it reported disappointing sales on weak China demand. LVMH’s fashion and leather goods unit – including iconic brands like Louis Vuitton and Dior – posted a 5% decline in sales,