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Louis Vuitton Sales Surge Helps LVMH Weather Covid Lockdowns
- Fashion, leather goods sales rose 18% in fourth quarter
- Return to revenue growth early this year seen as possible: BI
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LVMH weathered a new round of Covid-19 lockdowns thanks to the resilient appeal of its Louis Vuitton bags.
Sales for its fashion and leather goods unit soared 18% on an organic basis in the fourth quarter, beating the 11% jump analysts expected. Shares in the luxury conglomerate rose as much as 2% in Paris on Wednesday, trading at the highest in two weeks.