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Tags: Financial Markets | Infrastructure | Money | LVMH | COVID-19 economic rebound | luxury retail sales

Luxury Giant LVMH's 3Q21 Sales Up 20 Percent

LVMH Veuve Clicquot Polo Classic
Actor Justin Hartley and wife/actress Sofia Pernas arrive Oct. 2 at LVMH's Veuve Clicquot Polo Classic in Pacific Palisades, Los Angeles. (AP)

Tuesday, 12 October 2021 11:50 AM

Sales at French luxury giant LVMH grew by 20% in the third quarter, fueled 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 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%.

($1 = 0.8664 euros)

© 2021 Thomson/Reuters. All rights reserved.


StreetTalk
Sales at French luxury giant LVMH grew by 20% in the third quarter, fueled by appetite for high-end fashion from consumers eager to splash out following months of pandemic lockdowns.
LVMH, COVID-19 economic rebound, luxury retail sales
104
2021-50-12
Tuesday, 12 October 2021 11:50 AM
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