Vuitton parent LVMH posts solid third-quarter sales amid China concerns
Louis Vuitton owner LVMH on Tuesday posted a 10 percent rise in comparable sales in the third quarter, in line with forecasts and setting an encouraging tone for luxury companies sensitive to any wavering in Chinese demand.
The world`s biggest luxury goods group, also home to fashion brand Christian Dior and cognac label Hennessy, said revenue in the July to September period came in at 11.4 billion euros ($13.09 billion), also up 10 percent on a reported basis.
LVMH, along with Paris-based rival Kering, is one of the industry players that has best profited so far from a two-year-old sector recovery powered by appetite from Chinese consumers. ($1 = 0.8708 euros)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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