LVMH Sales Surge as Chinese Consumers Start to Splurge

LVMH shares are up more than 20% this year after the slump in Chinese demand began to recede. Photo: Bloomberg

(Bloomberg) — LVMH sales soared as Chinese shoppers bounced back from the world’s strictest lockdowns and splashed out on luxury items.

Organic sales at the group’s biggest unit, which sells fashion and leather goods, rose 18% in the first quarter, LVMH said in a statement Wednesday. That’s almost twice the gain that analysts were expecting from Europe’s most valuable company.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: London Luxury in Macao

PODCAST

Caixin-Sinica Business Brief: Hong Kong to Allow Retail Investors to Trade Crypto

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

2: China’s Post-Reopening Second Covid Wave Could Peak in Late June, Expert Says

3: In Depth: Chinese Fast Fashion Platforms Could Be Next U.S. Target

4: Five Things to Know About Chinese Trust Firms’ Scramble to Offload Risky Assets

5: Kunming Scrambles to Pay Off $170 Million of Financing Vehicle Debt