Retail in Asia

In Sectors

LVMH delivers growth with resilient sales outside China

LVMH, the world’s biggest luxury group, bucked an industry downturn with stronger-than-expected fourth-quarter sales growth as resilience in Europe, Japan and the United States helped compensate for weakness in China.

LVMH’s fashion and leather division, which accounts for the bulk of its sales and profits, saw revenue rise 3 percent like-for-like in the fourth quarter, overshooting analysts’ expectations of flattish growth of around 1 percent.

The division’s growth was unchanged from the third quarter after slowing from 10 percent in the second.