Fashion
LVMH Bounces Back on Demand for Louis Vuitton and Dior Bags
- Key fashion, leather unit beats expectations with sales gain
- Luxury giant still cautious amid economic, virus uncertainty
Photographer: Adrienne Surprenant/Bloomberg
The owner of Louis Vuitton enjoyed an unexpected rebound in consumers’ appetite for dresses and monogram bags, buoying third-quarter sales.
Organic revenue at LVMH’s fashion and leather goods unit jumped 12% in the third quarter as the world’s largest luxury company cited strong sales of items like Christian Dior’s $3,000-and-up Bobby bags. Analysts expected a 0.9% decline.