PARIS :Luxury goods group LVMH's sales rose 9 per cent in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China.Sales at the world's biggest luxury group reached 22.7 billion euros ($24.65 billion) in the fi
PARIS :Luxury goods group LVMH's sales rose 9 per cent in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China.
"China was sharply down in the fourth quarter," the group's finance chief, Jean-Jacques Guiony, told reporters. LVMH, a conglomerate spanning spirits, jewellery, cosmetics and fashion which is regarded as a bellwether for the wider luxury industry, does not give a breakdown for its brands. "Louis Vuitton, Christian Dior, Celine, Fendi, Loro Piana, Loewe, and Marc Jacobs are all gaining market share globally and reaching record levels of revenue and earnings," said Luca Solca, luxury analyst at Bernstein, referring to LVMH's fashion and leather goods brands.
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Luxury giant LVMH sales rise 9% in fourth quarterPARIS :Luxury goods group LVMH posted a 9 per cent rise in sales in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China.Sales at the world's biggest luxury group came to 22.7 billion euros ($24.65 billion)
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