LVMH shares down 55% since 2023, exits top-10 European companies on China, Middle East demand slump

LVMH's stock has fallen 55% since 2023, dropping it out of Europe's top-10 companies by market cap. The decline is driven by weakened luxury demand in China and, more recently, reduced spending in major commercial centers due to Middle East conflict. This signals a sustained downturn in luxury consumption, a key indicator of high-end discretionary spending.