Significant losses for LVMH's wine and spirits division in the first half of 2020

The wine and spirits division of the French luxury group LVMH has recorded a 23 percent drop in sales and a 29 percent drop in profits in the first half of 2020. The reason was the lockdown in many countries of the world due to the corona pandemic. The group reported a massive slump in business, especially in the second quarter. The famous champagne houses such as Moët & Chandon, Krug and Veuve Clicquot were particularly affected. Exports to China, on the other hand, are already growing again.

(uka)