LVMH Gains to Record as Louis Vuitton, Dior Fuel Growth
- Designer reshuffle in menswear pays off at top brands
- Asia leads growth but sales also rebound on LVMH’s home turf
Shoppers walk past a Louis Vuitton store in Hong Kong, China on July 8.
Photographer: Kyle Lam/BloombergThis article is for subscribers only.
LVMH shares rose to a record after second-quarter sales breezed past analysts’ estimates, fueled by creative revamps at its Louis Vuitton and Christian Dior fashion brands.
Sales of fashion and leather goods rose 20% on an organic basis in the second quarter. The stock rose as much as 3.3% in Paris to a record, lifting LVMH’s market value to almost 200 billion euros ($223 billion).