LVMH Moet Hennessy Louis Vuitton Stock News

Stocks for some of Europe's most famous luxury brands are plummeting to their lowest level in years as Chinese customers cut back purchases and an industry revamp fails to launch.

Some investors are looking beyond turmoil in France for companies that depend little on their domestic market.

The idea of a three-way summit between President Donald Trump, Chinese leader Xi Jinping, and Russian President Vladimir Putin to end the Ukraine war sounds about as preposterous as abducting a Venezuelan president, launching a trade war against Canada, or killing Iran's top leaders without briefing Congress.

European luxury firms have seen some $350 billion in value knocked off their combined market capitalizations this ​year, as hopes of a sector rebound have faded and ​weakness in key growth engine China has persisted.

LVMH shares indicated lower as China weakness weighs on sales

LVMH share price continued to struggle this month, hovering near its lowest level since December 2020. The stock is down more than 54% from its 2023 peak, erasing billions of dollars in value as market capitalization has fallen from €439 billion to about €189 billion.

The French group said sales growth slowed, putting the brakes on a long-awaited recovery in Europe's luxury-goods industry.