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.