French luxury brand Louis Vuitton has plans to bring its men’s pre-fall runway show to Hong Kong next month, as parent company LVMH reported some sales growth in Asia amid a slowing down in the region and globally.
LVMH shares fell 7 percent following the group’s quarterly report, per the Financial Times.
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The pre-fall collection, designed by newly appointed men’s creative director Pharrell Williams, will be presented in Hong Kong on November 30, and will serve as the first time that a pre-collection from Louis Vuitton will be showcased as a physical runway show.
The Parisian brand did not disclose the precise location of the upcoming show.
Louis Vuitton has a long history with Hong Kong, having opened its first boutique in the Asian city in 1979, followed by the staging of various exhibitions in proceeding decades.
The luxury fashion house, however, has never hosted a fashion show in Hong Kong, a recognised financial and shopping hub in Asia, with the move certainly a strategic shot for the brand, looking to swing a slowing in sales growth globally, held up currently by Asia.
Louis Vuitton on October 10 released a trading update for the third-quarter, reporting organic sales inched forward just 1 percent for the three months ending September 30, to EUR 19.96 billion (USD 21.17 billion).
While organic revenues in Asia excluding Japan were up 11 percent in the third quarter, figures reflected a slowdown from the 34 percent jump in the prior three months, reflecting a more challenging comparison basis and a recovery in Chinese tourism outside of Asia, said LVMH.
Revenues in Japan remained strong, up 30 percent in the third quarter, after a rise of 29 percent in the second quarter.
By division, wines and spirits clocked an organic sales plummet of 14 percent in the third quarter, while selective retailing posted a 26 percent uptick. Watches and jewelry recorded a 3 percent increase, and perfumes and cosmetics were up 9 percent.
The fashion and leather goods division posted sales of EUR 9.75 billion in the third quarter, up 9 percent.
“In an uncertain economic and geopolitical environment, the group is confident in the continuation of its growth and will maintain a strategy focused on continuously enhancing the desirability of its brands, drawing on the authenticity and quality of its products, excellence in distribution and agile organization,” said LVMH in a press release.