Bling power

10 April 2019 By Lisa Jucca Follow @LJucca

Like-for-like sales at the 165 bln euro luxury giant grew a chunky 11 pct in the first quarter. The “buoyant” performance defies both slowing global economic expansion and trade tensions. It’s a good omen for other fashion conglomerates, but not for weaker single-brand rivals.

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Louis Vuitton owner LVMH said on April 10 that like-for-like sales rose 11 percent in the first quarter from a year earlier to 12.5 billion euros, higher than expectations for 8.2 percent growth in an analyst poll by Infront Data for Reuters.

Revenue at LVMH’s fashion and leather-goods division, which accounted for 41 percent of sales in the quarter, grew 15 percent on a like-for-like basis, which excludes the effects of currency fluctuations and merger activity.

The French luxury group said its business environment has been “buoyant” despite geopolitical uncertainties. It said it would provide further details at 3 p.m. Paris time on April 11.

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