PARIS (Reuters) – A standout achievement by LVMH’s (PA:) appearance and accoutrement appurtenances business additional third-quarter sales growth, it said on Tuesday, alms an auspicious assurance for a affluence appurtenances area absorbed by fears of a arrest in China.
The Louis Vuitton owner, which has a abiding of brands alignment from couture characterization Givenchy to cognac maker Hennessy, has profited forth with a scattering of rivals such as Gucci-owner Kering (PA:) from airy appeal amid Chinese barter in the accomplished two years.
Concerns over a barter war amid Beijing and Washington and a falling yuan has ashamed affluence appurtenances stocks in contempo weeks, admitting there is little assurance of crumbling spending amid adolescent and digital-savvy Chinese shoppers with a aftertaste for branded goods.
LVMH, the world’s better affluence appurtenances company, acquaint a 14 percent acceleration in commensurable sales in the analysis accoutrement sales of high-margin handbags and fashion, assault the 12 percent access accepted in an Inquiry Banking poll of analysts.
Powered by Vuitton, the distinct best important contributor to the conglomerate’s sales, the analysis is additionally home to appearance cast Christian Dior, which has been revamping its accessories with the contempo relaunch of its 1990s Saddle bag.
LVMH, the aboriginal affluence appurtenances amateur to address for the three months to Sept. 30, said sales accomplished 11.4 billion euros ($13.1 billion) in the division and were up 10 percent on a commensurable basis, in band with forecasts.
($1 = 0.8708 euros)
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