French luxury goods giant LVMH is seeing a surge in sales as wealthy shoppers continue to spend on fashion.
The group behind Louis Vuitton cognac, Hennessy cognac and Moet & Chandon champagne has also received support from the easing of Covid restrictions in China, a key market for high-end goods.
Sales rose 19% in the third quarter of 2022 to £17.2bn.
French luxury goods giant LVMH has been helped by the easing of Covid restrictions in China, a key market for high-end goods.
The group warned of “uncertain outlook” but is confident that sales will continue to grow at the same pace until the end of the year.
According to the latest results, sales for the first nine months of the year were £49.4bn, up 28% on the same period last year.
Its key fashion and leather goods business, which also includes Fendi and Christian Dior, posted the fastest growth at 31%. Also shone the flagship brand Louis Vuitton.
The wine and spirits business also posted strong growth this year, helped by “particularly strong” performance in Europe, where sales were up 23% year-over-year.
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