LVMH Moët Hennessy Louis Vuitton SE $MC.PA, the world’s largest luxury conglomerate, has reported a sustained contraction in luxury spending among Chinese consumers. Stéphane Bianchi, Deputy CEO of LVMH, highlighted this trend during recent parliamentary testimony, underscoring that Chinese buyers have significantly reduced both travel and discretionary consumption over the past quarter. This signals that the widely anticipated rebound in Chinese demand for premium products remains subdued.