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LVMH's Painful Upmarket Move

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LVMH's Painful Upmarket Move
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They're the world's biggest luxury group but LVMH have just reported a surprise slowdown in growth. Sales growth at its fashion and leather business, which includes Louis Vuitton, Celine and Dior, slid to 3 percent in the third quarter. Expectations were for 7-8 percent. The news pushed its stock down more than 6 percent in early trade, wiping around 4.8 billion euros off the market value.moreless
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