LVMH posts double digit sales growth

213

LVMH has hailed the strong performance in its fashion brands as sales grow by double digits throughout its third quarter.

The luxury conglomerate, which owns brands including Louis Vuitton, Christian Dior, Celine, Kenzo and Emilio Pucci, saw sales rise 10 per cent year-on-year to €11.4 billion (£9.69 billion) during the quarter.

This was largely in line with analyst estimates but down slightly on the 11 per cent growth seen in the previous quarter.

It attributed is rising sales to a strong performance in its fashion and leather goods arm, its largest division, which saw sales jump 14 per cent to €4.46 billion (£3.89 billion) aided by its acquisition of Christian Dior last year.

Elsewhere its perfumes and cosmetics business also performed well, seeing sales rise 11 per cent to €1.5 billion (£1.3 billion), while sales in its wines and spirits arm rose seven per cent to €1.3 billion (£1.1 billion).

Despite the solid set of results, investors have warned of the potential impacts both growing trade tensions between the US and China may have on sales in the fourth quarter.

Click here to sign up to Retail Gazette‘s free daily email newsletter