PARIS — A day after its stock dropped by more than 11 percent, LVMH Moët Hennessy Louis Vuitton on Wednesday issued a statement saying its business in China remained strong.
LVMH’s stock dropped sharply Tuesday following comments by LVMH China manager Andrew Wu that it would be “naïve” to believe the luxury goods group in China is sheltered from the global economic turmoil. LVMH stock was up more than 3 percent in midmorning trading in Paris on Wednesday after the company “clarified” that its business was showing “very dynamic growth” in China.
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