Strong sales: Prosperous Chinese consumers have been stocking up on LVMH’s Louis Vuitton handbags and Givenchy makeup, powering record sales last year for the company with the highest market value in France. — Reuters
PARIS: LVMH set an upbeat tone for the luxury industry, plowing ahead with double-digit sales growth that beat analysts’ estimates for the start of the year.
First-quarter sales rose 13% on an organic basis, the Paris-based owner of Sephora and Christian Dior said Monday after Paris markets closed. Analysts had estimated 8.5%, projecting growth to taper off after a 12% jump last year.
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