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Sunday, October 17, 2021
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Luxury giant LVMH says third quarter sales grew by 20%

Sales at French luxury giant LVMH grew by 20% in the third quarter, fuelled by appetite for high-end fashion from consumers eager to splash out following months of pandemic lockdowns.

LVMH, which sells a range of luxury products spanning Moët & Chandon champagne and Bulgari timepieces, said on Tuesday (October 12) like-for-like sales, stripping out the effect of foreign exchange fluctuations, rose to 15.51 billion euros ($17.90 billion) in the three months to September.

Growth was roughly in line with an analyst consensus forecast for a 21% rise cited by Barclays, after a stellar second quarter which saw revenues surge by 84%.

(Production: Marissa Davison)

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