LVMH has posted a strong rise in sales in its fashion and leather goods arm in the third quarter, seeing figures rise by 24 per cent.
The luxury group cited the popularity of flagship labels such as Louis Vuitton and Dior for the reason it has seen a rise in sales.
The group’s products, which also includes Moët & Chandon champagne and Bulgari timepieces, have performed above expectations, meaning revenues were 38 per cent above their pre-pandemic levels.
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The group’s shares opened up 0.4 per cent at the beginning of trading before falling flat in early trade, outperforming the broader French stock market.
“LVMH delivers another strong quarter”, Jefferies analysts wrote.
“While we remain cautious on the sector in the short term, we continue to view LVMH as the structural winner.”
The group’s like-for-like sales rose by 20 per cent to reach €15.51 billion ($17.91 billion) in the three months to September, in line with analysts predictions of a 21 per cent rise.