The luxury brand is a heavyweight in the European stock index Euro Stoxx 50.
(Photo: Bloomberg)
Frankfurt Good sales numbers from French group LVMH Moët Hennessy Louis Vuitton have boosted shares across the luxury sector. LVMH was up more than four percent on Thursday, hitting a new record high.
In the first quarter, the group recorded a jump in sales of 17 percent to 21 billion euros compared to the previous year. This slightly exceeded the expected value of 20 billion.
The “selective retail” division with the cosmetics chain Sephora and the chain DFS, which specializes in travellers, grew by around 30 percent, accounting for almost four billion euros in sales. The largest division, “Fashion and Leather”, with sales of 10.7 billion euros, showed an increase of 18 percent.
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