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LVMH luxury sales soar as consumer spending returns
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LVMH luxury sales soar as consumer spending returns

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LVMH, the world’s biggest luxury goods firm, has said it believes consumers are back in the spending habit. The group reported a forecast-beating 13% rise in like-for-like sales in the three months to 31 March, helped by strong growth in the US and Europe. The Paris-based maker of Louis Vuitton handbags, Hennessy cognac, and Tag Heuer watches saw sales top 4.47bn euros ($6.3bn; £4bn). LVMH said that all its five divisions saw double-digit revenue growth. The luxury goods industry has been hard hit by recession, but consumer spending is up and companies are replenishing their stocks, LVMH said. –from BBC



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