Demand for Louis Vuitton handbags, Cognac dips

Bright spots: Part of the manufacturing process of a Louis Vuitton product in Asnieres-sur-Seine near Paris. LVMH sales fell 6% in Asia, excluding Japan, yet Chinese demand for fashion and leather goods – at home and abroad – is up almost 10%. — Reuters

PARIS: LVMH sales growth slowed at the start of the year as wealthy consumers reined in spending on pricey Louis Vuitton handbags and Hennessy Cognac.

Organic revenue at the luxury group’s fashion and leather goods unit, its biggest division, rose 2% in the first quarter, Paris-based LVMH said.