LVMH, the world’s largest luxury goods company, posted forecast-beating third-quarter sales growth yesterday and said it was confident for the rest of 2011, in the latest sign of wealthy shoppers’ resilient appetite for high-end goods.
The Louis Vuitton maker posted a 15 per cent sales gain on a like-for-like basis, following strong results from Burberry last week. The numbers augur well for other luxury fashion brands and retailers even amid nagging signs that the broader economy is in danger of slipping into recession.
Sales rose to €6.01bn (£5.23bn) in the three months to 30 September, beating consensus of €5.8bn. LVMH said the first nine months of the year confirmed its confidence for the full year
LVMH said the trend in the third quarter matched the first half, with momentum in Asia, Europe and the United States and a rebound in Japan from the slump following the earthquake disaster..