Louis Vuitton’s parent has luxury goods revenue in the bag
Chinese are still in love with LVHM, and more buying on the mainland makes up for Hong Kong blues
Paris — LVMH bucked concerns about the impact of protests in Hong Kong on sales of luxury goods to the key Chinese consumer market, throwing down a gauntlet to rivals with faster-than-expected revenue growth.
Third-quarter sales of fashion and leather goods rose 19% as the Paris-based company that’s seen as a bellwether for the wider luxury sector flagged “remarkable” performances at Louis Vuitton and Christian Dior. Analysts had predicted a 15% gain on a comparable basis.