search

Luxury Giant LVMH’s Third-Quarter Sales up by 20 Percent

PARIS—Sales at French luxury group LVMH’s fashion and leather goods division rose strongly in the third quarter even though overall revenue growth in Asia and the United States eased from their stellar first-half performance. LVMH, whose luxury products span Moët & Chandon champagne and Bulgari timepieces, said on Tuesday the popularity of its star labels Louis Vuitton and Dior helped its fashion and leather goods division, which accounts for nearly half of group sales, to report 24 percent growth. Revenues for this business at the end of the quarter were 38 percent above their pre-pandemic, 2019 level, the same rate as in the first half. The luxury goods industry has bounced back strongly from the health crisis, even if international travel, a key growth driver in pre-pandemic times, has not fully resumed. LVMH chief financial officer Jean-Jacques Guiony said revenue growth in Asia had been under pressure in August due to …

Related Post

This website uses cookies.