Skip to content
Pursuits
Fashion

LVMH Says Revenue Has Dropped as Much as 20% Due to Coronavirus

A food delivery courier passes a closed Louis Vuitton store in central London on March 24.
A food delivery courier passes a closed Louis Vuitton store in central London on March 24.Photographer: Simon Dawson/Bloomberg

LVMH said revenue for the last quarter dropped 10% to 20%, compared with the same period last year, as its luxury brands temporarily closed stores and shoppers tightened their wallets due to the coronavirus pandemic.

The French luxury-goods maker will disclose first-quarter results on April 16. The company said the outbreak’s full impact “cannot be accurately calculated at this time.”