LVMH CFO: Optimistic About China Amid January Recovery

The transcript discusses the challenges faced in December due to low business traffic and store closures. It highlights a significant recovery in January, expressing optimism about China's recovery from the pandemic. The discussion also covers how China's business levels have surpassed pre-pandemic levels, aided by the repatriation of tourism business. The overall tone is optimistic about future business prospects in China.

What were the main challenges faced by businesses in December?

• Store closures and low traffic

• Increased competition

• High operational costs

• Supply chain disruptions

What is the outlook for business in China as of January?

• Pessimistic due to ongoing challenges

• Neutral with no clear trend

• Optimistic with signs of recovery

• Uncertain due to lack of data

How has China's business level changed compared to 2019?

• It has decreased significantly

• It is slightly below 2019 levels

• It remains the same

• It has surpassed 2019 levels

What factor contributed to the increase in China's business levels?

• Government subsidies

• Improved technology

• Higher foreign investments

• Increased domestic tourism

What is the current status of the disruptions experienced in 2022?

• They are worsening

• They are improving

• They remain unchanged

• They have completely resolved