Louis Vuitton wins lawsuit against Molly Tea but faces sales decline due to backlash in China
- 1A Chinese court ruled in favor of Louis Vuitton, ordering Molly Tea to pay 10.3 million yuan ($1.5 million) in damages.
- 2LVMH's fashion and leather goods division saw a 5% decline in third-quarter sales, excluding currency fluctuations and acquisitions.
- 3Luca Solca, director at Bernstein, stated that the Molly Tea backlash accounted for 2 to 3 percentage points of that sales decline.
So what's the key point?
A Chinese court ruled in favor of Louis Vuitton and ordered Molly Tea to pay 10.3 million yuan ($1.5 million) in damages.
Source Fortune · View original ↗
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