Luxury giant LVMH says third quarter sales grew by 20%

imageStock Markets11 minutes ago (Oct 12, 2021 11:56AM ET)

(C) Reuters. FILE PHOTO: Clients, wearing protective face masks, queue in line in front of a Louis Vuitton shop inside the department store Le Printemps Haussmann in Paris following the outbreak of the coronavirus disease (COVID-19) in France, May 28, 2020. REUTERS/Go

PARIS (Reuters) – 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 Moet & 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 (LON:BARC), after a stellar second quarter which saw revenues surge by 84%.

Luxury giant LVMH says third quarter sales grew by 20%

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