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Economy
Customers are lined up outside a Louis Vuitton store.
Louis Vuitton stores in China have lost ground to their Japanese counterparts from a weaker yen.

Zhang Peng/LightRocket/Getty Images

  • LVMH is continuing to spend big on marketing in China even amid the country's economic gloom.
  • Chinese luxury consumers are still spending, but they're going to Japan due to the weak yen.
  • LVMH's Asia ex-Japan revenue fell 14% on-year in Q2, but Japan sales surged 57%.

China's once-mighty consumers are holding back on buying as much as they used to at home. But luxury giant LVMH is still spending big on them.

Tags
Retail, Retail, LVMH, marketing, China, economy, Luxury, News
Source
LVMH is waiting for China's consumers to shop at home