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LVMH Surges as Shoppers Snapping Up Couture Lift Sales to Record

  • Luxury industry’s V-shaped recovery from pandemic continues
  • Group built on M&A will be ‘opportunistic’ in seeking deals
Christmas Shopping Along Champs Elysee in Paris
Photographer: Nathan Laine/Bloomberg
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LVMH SE shares surged after the luxury giant bounced back from the depths of the pandemic as customers snapped up items ranging from Christian Dior couture to Hennessy cognac. 

Revenue last year totaled 64.2 billion euros ($71.6 billion), the Paris-based company said late Thursday, topping the previous record set in 2019, before Covid-19 lockdowns closed stores and kept shoppers stuck at home. Analysts had expected revenue of 62.2 billion euros.