Luxury goods purveyor LVMH Moët Hennessy-Louis Vuitton's (OTC: LVMUY) stock wasn't feeling like much of a luxury for investors on Tuesday. Following the company's publication of its latest set of quarterly and annual results,

The results follow a slowdown in demand for the luxury goods sector.

French luxury conglomerate LVMH saw its stock slide by more than 6% following the Tuesday evening reveal of its 2024 annual results.

Following Meta’s layoffs earlier this month, Arnault, the head of the luxury goods conglomerate that controls brands like Louis Vuitton, Fendi, and Sephora, likened Meta CEO Mark Zuckerberg’s move to let go of low-performing workers to layoffs at Tiffany’s.

If you thought Formula 1 fashion was good before, today's news is proof that the pinnacle of motorsport's sartorial endeavors are only just getting started. Nearly four years after Louis Vuitton first entered the world of motorsport when it debuted a Trophy Trunk for the Monaco Grand Prix in 2021,