LVMH: We refrain from using price as a growth driver
As LVMH posts another sales decline, its CFO says the luxury business will continue to invest in brand so it emerges stronger when demand returns.
Luxury giant LVMH has underlined the importance of continuing to invest in brand and not using price as a growth driver as it records a 3% decline in first-quarter sales.
“It’s key to continue to invest in our networks and behind the brand because we want to make sure that we exit this downturn cycle very strong and ready when demand bounces back,” LVMH CFO Cecile Cabanis said on a call with investors yesterday (14 April).
However, as the business looks to create efficiencies, she didn’t rule out making adjustments to marketing spend.
