LVMH China Watch Sales Decline Offset by Overseas Buying

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, says its sales of jewelry and watches have dropped in mainland China and are being offset by Chinese nationals buying overseas.

Sales to Chinese consumers are performing “fairly well” as shoppers increasingly travel to Hong Kong, Taiwan, Macau and Dubai, as well as to traditional European destinations such as Rome, Milan and Paris, Francesco Trapani, president of its watch and jewelry division, said in a July 17 interview.