Lower levels of demand in the critical Japanese marketplace will mean a more ‘challenging’ first half for Moet Hennessy Louis Vuitton, the company’s chairman has warned.

Speaking at LVMH’s annual general meeting last week, chairman Bernard Arnault said that although the company was still on target for double digit growth in sales and operating profit for the year, a combination of a weak yen and sluggish consumption in Asia would likely have a negative impact on first half results.

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