LVMH Reports Sales Increase Amidst Strong Luxury Market Demand

29-01-24

LVMH, the leading luxury goods conglomerate, announced a 10% increase in sales for the fourth quarter of 2023, surpassing the growth rate of the previous quarter. This rise is attributed to steadfast demand, particularly from Chinese consumers, for its premium fashion brands during the crucial year-end season. 

The group, home to renowned labels such as Louis Vuitton, Dior, and Tiffany, reported sales nearing 24 billion euros ($26 billion) for the last three months of the year, slightly exceeding the 9% growth anticipated by analysts, as per HSBC consensus.