The conglomerate, which owns Christian Dior in fashion and Krug in Champagne, was boosted by a strong performance in its leather goods unit
Paris — On Wednesday, Louis Vuitton owner LVMH set a high bar for rival luxury goods companies trying to capitalise on Chinese demand for high-end handbags and clothing, with stronger-than-expected sales growth in the first quarter.
Its performance bodes well for other companies that derive much of their profit from high-margin handbags, and which have proved a hit with consumers in recent years, such as Kering’s Gucci or Birkin bag maker Hermès.
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