Luxury fashion brands soared on Thursday after LVMH, the parent company of Louis Vuitton and Moët, revealed its third-quarter sales were better than expected.
LVMH reported a 19% rise in organic revenue from fashion and leather goods in the period, beating the 15% increase expected by Bloomberg’s analysts. The luxury goods titan’s overall revenue jumped 17%, contributing to a 16% rise for the first nine months of 2019. Sales across its other divisions — wines and spirits, perfumes and cosmetics, watches and jewelry, and selective retailing — rose in the first three quarters.
