Louis Vuitton owner LVMH could “accurately” calculate at this stage the impact of the closures of production sites and stores linked to the coronavirus outbreak around the world. The French luxury goods group will publish its sales figure for the first quarter on April 16, after the close of the Paris market. The brand expects it to decrease in a range between 10 and 20 per cent compared to the same period last year.
In the short term, the measures taken by public authorities to combat the Covid-19 pandemic have resulted in the closure of production sites and stores of the brand in several countries which will have an impact on the group's results. The brand has stated that this impact cannot be accurately calculated at this time without knowing the timing of a return to normal in these countries.