LVMH sales growth raises hope for end to luxury downturn
- LVMH reported a 1% rise in fourth-quarter sales, reaching 23.9 billion euros, as demand for designer fashion and handbags increased during the Christmas season.
- The fashion division of LVMH, which includes Louis Vuitton and Dior, had fourth-quarter sales of 11.1 billion euros, beating a consensus forecast for a 3.3% decline.
- The luxury industry faced a 2% global sales decline last year, with Bain & Company attributing this to China's sluggish economy.
- Finance Chief Jean Jacques Guiony noted a "slight trend of improvement" in the United States and Europe, particularly in fashion and leather sales.
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C 74%
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