By  on November 12, 2008

PARIS – A day after its stock dropped more than 11 percent, LVMH Moet Hennessy Louis Vuitton on Wednesday issued a statement saying its business in China remained strong.

LVMH stock dropped sharply Tuesday after comments by LVMH China manager Andrew Wu that it would be “naïve” to believe that LVMH in China is sheltered from world economic turmoil. LVMH stock was up over 3 percent in mid-morning trading in Paris after LVMH "clarified" that its business was showing “very dynamic growth” in China.

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